BlackRock’s IBIT Spot Bitcoin ETF Holds over 100,000 BTC Worth $5.1 Billion
BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated an impressive 105,280.3 BTC, valued at over $5.4 billion. The ETF also includes a small fiat component of $80,698.75. With more than 167.24 million outstanding shares locked in, the IBIT spot Bitcoin ETF has become a popular choice among mainstream investors.
Fidelity, BitWise, VanEck, and Ark 21Shares are among the other asset managers that have launched their own spot Bitcoin ETF funds. However, BlackRock’s IBIT has outperformed them all by growing its BTC stash from 2,621 to 105,280 in just over a month.
IBIT’s Competitive Fees Make It a Leader in Spot Bitcoin ETFs
BlackRock’s IBIT has gained traction in the exchange-traded product (ETP) ecosystem by offering competitive rates compared to competitors like Grayscale Bitcoin Trust (GBTC). GBTC’s Bitcoin holdings have significantly decreased as it charges a higher fee of 1.5% compared to Fidelity’s 0.35% and BlackRock’s 0.25%. As a result of its lower fees, IBIT has attracted the most investment inflows in the past month.
In February alone, IBIT received $493.1 million in investments, while Fidelity’s FBTC received $163.6 million and Bitwise’s BITB received $10.8 million.
Legacy Asset Firms Hold More BTC Than MicroStrategy
A recent report by HODL15Capital reveals that legacy asset firms own a significant amount of bitcoin, surpassing MicroStrategy’s holdings. These firms collectively own 216,309 BTC, valued at over $11 billion.
Conclusion
BlackRock’s IBIT spot Bitcoin ETF has established itself as a leader in the industry, accumulating over 100,000 BTC worth $5.1 billion. Its competitive fees have attracted significant investment inflows, outperforming other ETFs in the market. Additionally, legacy asset firms have acquired a substantial amount of bitcoin, surpassing MicroStrategy’s holdings. As the popularity of spot Bitcoin ETFs continues to grow, more investors are turning to these funds for their crypto investments.
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