BlackRock’s spot Bitcoin exchange-traded fund has surpassed the 700,000 BTC mark, reinforcing its dominance in the US Bitcoin ETF market.
The milestone follows a fresh inflow of $164.6 million recorded on Monday.
According to Apollo co-founder Thomas Fahrer, the iShares Bitcoin Trust (IBIT) now holds 700,307 BTC, valued at roughly $75.5 billion at current market prices. BlackRock’s official iShares website listed IBIT holdings at 698,919 BTC as of last Thursday, indicating an addition of 1,388 BTC in just two trading sessions.
IBIT currently accounts for over 55% of the total Bitcoin held across all US spot Bitcoin ETFs, according to data from Bitbo. Since its launch in January 2024, the fund has delivered an impressive total return of 82.67%.
In a remarkable shift, reports indicate that BlackRock’s revenue from its IBIT fund has now overtaken earnings from its flagship iShares Core S&P 500 ETF.
Meanwhile, new research by Galaxy reveals that US Bitcoin ETFs, together with Michael Saylor’s MicroStrategy – the largest corporate holder of Bitcoin – have been buying more Bitcoin than miners can produce almost every month this year.
So far in 2025, Bitcoin purchases by ETFs and MicroStrategy have amounted to $28.22 billion, while miners have only generated $7.85 billion worth of new Bitcoin. The only month where combined purchases fell short was February, when the entities collectively sold around $842 million worth of Bitcoin.
On the regulatory front, the U.S. Securities and Exchange Commission is reportedly considering a move to simplify crypto ETF approvals. Under the proposed structure, issuers would file Form S-1 and wait 75 days, after which the ETF can list if the SEC raises no objections.
Earlier in July, REX-Osprey Solana and Staking ETF became the first fund in the US to provide exposure to a staked crypto ETF, giving investors access to Solana (SOL) and its staking rewards.
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