BlackRock owns over 2% of total Bitcoin supply

BlackRock's spot ETF surpasses 500,000 bitcoins in assets under management

BlackRock's IBIT spot Bitcoin exchange-traded fund surpassed 500,000 BTC ($48 billion) in assets under management on Monday, less than a year after it began trading on Jan. 11.

BlackRock's Bitcoin ETF had already accumulated 496,854 BTC as of Nov. 29, according to its latest fund disclosures. IBIT's $338.3 million (about 3,526 BTC) of net inflows yesterday were enough to surpass the milestone, reaching 500,380 BTC, according to data from K33 — 2.38% of the total supply of 21 million bitcoins.

“BlackRock’s passing of 500,000 BTC is another huge milestone after a spectacular launch year,” Vetle Lunde, head of research at K33, told The Block. “It remains the third-strongest ETF instrument in the US as measured by year-to-date flow, ahead of Invesco’s QQQ behemoth at $314 billion.”

“Consistent and strong inflows into IBIT and its peers throughout the year have been a central source of BTC’s drive to new all-time highs and highlight the extent to which ETFs have improved access to BTC exposure for new segments of capital,” Lunde said.

#Bitcoin! #BTC☀ #BlackRock #BinanceSquareFamily #BTCETF $BTC