BlackRock's Spot Bitcoin ETF has reached a significant milestone, surpassing 500,000 BTC in assets under management, becoming one of the fastest-growing ETFs in history.
BlackRock's Record Achievements
Less than a year after its debut on January 11, the fund reached 500,380 BTC as of November 29. According to K33 data, single-day net inflows amounted to $338.3 million (about 3,526 BTC), adding to the assets. Vetle Lunde, Head of Research at K33, described this as unprecedented growth.
Market Significance
Ian Unsworth, co-founder of Kairos Research, highlighted that IBIT's assets represent 2.38% of the total Bitcoin supply, underlining the fund's importance.
Position of US ETFs
Last week, U.S. Bitcoin ETFs attracted net inflows of $353.6 million, bringing total inflows to a record $6.6 billion. US ETFs altogether hold around 1.08 million BTC, nearing the estimated assets of Satoshi Nakamoto.
BlackRock's achievement underscores the growing interest in Bitcoin and the role of ETFs in the market.
