- BlackRock launched one of the first SEC-approved spot Bitcoin ETFs in January 2023, marking a milestone for the crypto industry.
- According to reports, BlackRockās spot Bitcoin ETF called iShares Bitcoin Trust now holds over 45,000 BTC worth over $18 billion just weeks after launch.
- BlackRockās considerable Bitcoin holdings highlight growing institutional adoption of crypto, and the asset manager may soon become one of the largest institutional holders of Bitcoin.
BlackRock made history by launching one of the first SEC-approved spot Bitcoin ETFs. As the largest asset manager in the world, the performance of their ETF carries major significance. Now that it has been trading for a few weeks, many are wondering ā how much Bitcoin does BlackRockās spot ETF hold?
The Launch of Spot Bitcoin ETFs in the US
In January 2023, the SEC finally approved several spot Bitcoin ETF applications after over a decade of rejections. On January 10, 11 spot Bitcoin ETFs began trading, marking a milestone for the crypto industry. Asset management giant BlackRock launched its own spot Bitcoin ETF called iShares Bitcoin Trust on the Nasdaq exchange.
BlackRockās Bitcoin Holdings Revealed
According to recent reports, BlackRock now holds 45,688 BTC worth over $18 billion for its spot Bitcoin ETF. The fund had a hugely successful inaugural week of trading. As hype around the ETF grows, holdings are expected to continue increasing in the coming days and weeks.
BlackRockās CEO Larry Fink has voiced optimism about expanding the firmās crypto offerings. He sees value in a potential spot Ethereum ETF. So far, Bitcoin ETF development has been positive news for the digital asset sector overall.
The Bottom Line
BlackRockās considerable Bitcoin holdings highlight growing institutional adoption of crypto. The asset managerās spot Bitcoin ETF is off to a strong start, holding over 45,000 BTC just weeks after launch. If holdings continue growing at this rate, BlackRock may soon become one of the large
