PANews reported on December 3rd that according to The Block, the assets of BlackRock's IBIT spot Bitcoin ETF exceeded 500,000 BTC (US$48 billion) on Monday, less than a year after it began trading on January 11. According to BlackRock's latest fund disclosure, as of November 29, BlackRock's Bitcoin ETF has accumulated 496,854 BTC. According to K33 data, IBIT's net inflow yesterday was US$338.3 million (about 3,526 BTC), enough to break this milestone and reach 500,380 BTC, accounting for 2.38% of the total supply of Bitcoin of 21 million.
Vetle Lunde, head of research at K33, said: “BlackRock’s breakthrough of 500,000 BTC is another major milestone achieved one year after its launch. It remains the third largest ETF vehicle in the US by year-to-date flows, ahead of Invesco’s QQQ at $314 billion. It is worth noting that these products are expected to continue to grow, with institutional ownership of IBIT at 24% as of the end of the third quarter of 2024. Ultimately, we expect these vehicles to become standard portfolio diversification tools for large funds.”
