- IBIT, BlackRock’s spot Bitcoin ETF, has surpassed 100,000 BTC under management just 22 days after launching, becoming the first spot Bitcoin ETF to reach this milestone.
- IBIT’s holdings have increased by over 3,700% since debuting in January, from 2,621 BTC to over 100,000 BTC.
- Daily inflows into IBIT hit new records, totaling $493 million on February 13 as the Bitcoin rally continues with Bitcoin passing $51,000.
BlackRock‘s spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has surpassed 100,000 BTC under management. This milestone highlights the fund’s massive growth since launching on January 11, 2023.
IBIT Reaches 100K BTC Threshold
According to official data from BlackRock, IBIT amassed 105,280 BTC in holdings on February 13. The iShares Bitcoin Trust became the first spot Bitcoin ETF in the United States to reach 100,000 BTC in managed assets, doing so on just the 22nd day of trading. This achievement puts IBIT ahead of the other nine spot Bitcoin ETFs, excluding Grayscale Bitcoin Trust (GBTC).
3700% Increase in Holdings Since Launch
BlackRock has multiplied the iShares Bitcoin Trust’s holdings by more than 3,700% since debuting IBIT in January. Its assets under management have exploded from just 2,621 BTC on January 11 to 100,000 BTC on February 13.
Daily Inflows Hit New Records
IBIT’s milestone came as spot Bitcoin ETFs posted another record high for daily net inflows since launch. According to data from Farside Investors, combined daily inflows from 10 spot Bitcoin ETFs totaled $633 million, with $493 million flowing into IBIT alone.
Struggling to Match Demand?
Some crypto observers claim BlackRock may have struggled to match demand from the massive inflows into IBIT recently. One enthusiast wrote that OTC sellers to BlackRock “ran out of coins” and the firm “literally had to buy BTC from Coinbase.”
Bitcoin Rally Continues
The news comes as Bitcoin sees significant growth, passing $51,000 for the first time since November 2021 after initially hitting the $50,000 mark on February 12. On February 14, Bitcoin reclaimed its $1 trillion asset status. Amid the rally, the Crypto Fear & Greed Index has been hitting levels not seen since Bitcoin’s all-time high of $69,000 in November 2021.
