BlackRock bitcoin spot ETF exceeds 300,000 BTC in assets under management
BlackRock's IBIT spot Bitcoin exchange-traded fund crossed $300,000 ($21 billion) in assets under management on Thursday, five months after it began trading on Jan. 11.
BlackRock's Bitcoin ETF has now accumulated 302,534 BTC, according to its fund page, with around 4,920 BTC in net inflows yesterday taking it past the milestone.
IBIT surpassed Grayscale's GBTC in terms of AUM last week, capturing the product that had an edge over the other Bitcoin ETFs in assets. GBTC originally operated as a private placement fund before moving to public trading on the OTC market in 2015 and its eventual conversion to an ETF in January.
However, given the simultaneous rise in the price of bitcoin since the spot ETFs were launched, GBTC's assets under management in US dollar terms have fallen less: 30% from a value of $28.7 billion on the 11th. January to $20 billion at current prices.
The combined assets of all US spot bitcoin ETFs now amount to nearly 883,000 BTC ($63 billion), according to CoinGlass data — 4.2% of the total 21 million bitcoin supply.
