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BlackRock now owns Bitcoin worth $40 billion

As Bitcoin climbs, the world's largest asset manager BlackRock, with its Bitcoin ETF, is racking up one record after another.

By Mike Hesp
• 2 min read
BlackRock now owns Bitcoin worth $40 billion

As Bitcoin climbs, BlackRock, the world's largest asset manager, with its Bitcoin ETF is racking up one record after another. The iShares Bitcoin Trust (IBIT) has now hit a new symbolic milestone with more than $40 billion in assets under management. That puts BlackRock's Bitcoin ETF ahead of even the most optimistic forecasts from the start of the year and easily surpasses the internal Gold ETF, which has been on the market for almost 20 years. The BTC index fund, on the other hand, hasn't even celebrated its first birthday yet. Especially since former President Donald Trump's surprisingly clear election victory, US Bitcoin ETFs have become incredibly popular.

Notable growth in Bitcoin ETF inflows since Trump's election win

Six trading days have passed since the Republicans won the election. In this short period, the eleven US Bitcoin-Spot-ETFs together posted net inflows of $4.73 billion. Market leader BlackRock did especially well, bringing in $3.02 billion via the iShares Bitcoin Trust, accounting for almost two-thirds of the total net inflow. Fidelity and ArkInvest followed in second and third place with $892 million and $262.3 million in fresh capital.

Why 2024 is just the beginning for BlackRock and others

The upside potential for Bitcoin ETFs remains enormous. According to the latest data, US Bitcoin ETFs collectively hold 1,049,804 BTC valued at $95.3 billion, representing more than 5% of the total circulating BTC supply. Yet institutional adoption is still in its early days. Only a handful of US pension funds have allocated a portion of their assets to Bitcoin ETFs. Moreover, with the exception of Morgan Stanley, none of the big Wall Street banks yet offer clients direct access to Bitcoin ETFs. That could change in the coming months if the new US administration pursues a friendlier crypto policy. BlackRock's ETF's market share is growing at an accelerating pace.

BlackRock now owns Bitcoin worth $40 billion

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