Recent data published on February 13 revealed that BlackRock’s IBIT spot Bitcoin ETF crypto service had amassed over 100,000 Bitcoin assets under management (AUM), positioning the firm as a clear leader in this closely contested sector. Here’s everything you need to know.
105,280 BTC Locked In Worth $5.1 Billion
According to official data shared by the asset manager, BlackRock’s iShares Bitcoin Trust (IBIT) holds an astronomical 105,280.3 BTC assets in its portfolio. The Bitcoin haul is worth over $5.4 billion in market valuations.
Adding more depth to the data, the data shows that the IBIT spot Bitcoin ETF also includes a minor fiat component totaling $80,698.75.
Zooming in on the number of shares, IBIT spot Bitcoin ETF currently has over 167.24 million outstanding shares locked in.
Spot Bitcoin ETFs are increasingly the go-to choice for mainstream investors. They address issues like storing crypto assets and dealing with fraudulent service providers.
In addition to BlackRock, other asset managers such as Fidelity, BitWise, VanEck, and Ark 21Shares have also launched their spot Bitcoin ETF funds.
BlackRock’s IBIT has been the most popular as it has surged 3,700% from its opening 2,621 BTC on January 11 to its current 105,280 stash, however.
Fee Could Be The Trick in IBIT Spot Bitcoin ETF Lead
IBIT is a new player in the exchange-traded product (ETP) ecosystem. From the onset, Bitcoin-powered investment services were made popular by Grayscale Bitcoin Trust (GBTC).
GBTC has seen its Bitcoin holdings greatly dwindle, however.
According to official data on its website, GBTC now holds 463,475 BTC, down from the 619,220 it held following its launch on January 11. This record fall has been largely driven by its high management fees. For context, GBTC charges 1.5% in fees, much higher than Fidelity’s 0.35% or BlackRock’s 0.25%.
Given the competitive rates it offers, IBIT has enjoyed the most in digital asset investment inflows in the past month.
According to a blog post by Farside Investors, the ETF inflow as of February 13 stood at $631 million in total.
Out of this sum, IBIT spot Bitcoin ETF attracted $493.1 million, while Fidelity’s FBTC took in $163.6 million. Also, Bitwise Bitcoin ETF (BITB) came in a distant third with $10.8 million.
The new spot #Bitcoin ETFs hold more $BTC than @saylor ‘s $MSTR
The 9 new ETFs purchased 216,309 Bitcoin (worth $10.3 Billion!!!) in just 20 days
$IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC pic.twitter.com/i8amhqCjWF
— HODL15Capital
(@HODL15Capital) February 11, 2024
Meanwhile, a recent report by HODL15Capital revealed legacy asset firms have amassed a major chunk of Bitcoin assets. The report suggests these firms own 216,309 Bitcoin assets worth over $11 billion, outranking MicroStrategy’s 190K BTC holdings.
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