BlackRock’s IBIT Leaves GBTC in Dust with 700K BTC AUM
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BlackRock’s IBIT spot Bitcoin ETF has hit a new high—700,000 BTC ($76 billion) in assets—further solidifying its lead over competitors like Grayscale’s GBTC.
The fund, launched in early 2024, saw 1,510 BTC in net inflows on July 7, pushing it past the milestone after a brief holiday pause. Nate Geraci called the accumulation of 700K BTC in 18 months “ridiculous,” while Eric Balchunas (Bloomberg) noted IBIT is now BlackRock’s #3 revenue-generating ETF, nearing the top spot.
IBIT overtook GBTC in AUM over a year ago, despite GBTC’s first-mover advantage. With lower fees and relentless inflows, BlackRock’s ETF shows no signs of slowing down.
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