BlackRock’s iShares Bitcoin ETF Becomes First to Reach 99% Bitcoin Holding and $1 Billion AUM

According to a trading report published today, Thursday, January 18, IBIT’s holding comprises 99% of Bitcoin tokens and almost $60,000 worth of fiat currencies. The ETF now holds about 25,067 coins, as per the update.

Robert Mitchnick, BlackRock’s Head of Digital Assets, expressed enthusiasm about this achievement, emphasizing that it signifies just “the beginning.” He affirmed BlackRock’s long-term commitment to providing investors access to a high-quality iShares exchange-traded fund.

The asset management giant launched its spot Bitcoin ETF for public trading on January 12, 2024, following the US Securities and Exchange Commission’s approval of their application two days earlier, like most other ETF issuers. Since then, it has ranked in the top spot for the largest Bitcoin ETF issuer globally. 

Meanwhile, Bloomberg Intelligence Analyst Eric Balchunas, in a post on X, reported that the top nine of the ten approved spot Bitcoin ETFs have managed an inflow of over $3 billion and traded over $5.4 Billion in their first four days, with BlackRock’s ETF ($IBIT) taking the most of these net asset flow.

In an interview with Bloomberg TV, Rachel Aguirre, BlackRock’s head of ETF products, explained that the high trading activity observed with its company’s ETF is “coming in from multiple directions.” She said this while responding to a question about whether IBIT inflows emerged from the massive outflows observed with Grayscale’s GBTC. Aguirre added that the inflows are coming in from retail transactions, self-directed transactions, and investors who were ready to invest from the inception of the ETF. 

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