BlackRock's Bitcoin ETF (IBIT) Achieves Significant Milestone, Holding 500K BTC

The iShares Bitcoin Trust (IBIT), BlackRock's spot Bitcoin ETF, has achieved a significant milestone, holding 500,380 Bitcoin as of December 2nd.

BlackRock's iShares Bitcoin Trust (NYSE:IBIT) has now crossed a major threshold, revealing that it holds 500,380 Bitcoin as of December 2. At current market prices, these holdings are valued at about $48 billion.

Highlighting the ease of investing in Bitcoin through the ETF, compared to the complexities of direct ownership, BlackRock noted in its latest filing with the U.S. Securities and Exchange Commission (SEC) on Friday:

“The Trust provides a straightforward way for investors to gain exposure to Bitcoin without needing to directly own or trade physical cryptocurrency.”

Bitcoin ETF Market Dynamics and Holdings

The IBIT ETF now holds roughly 2.38% of the total Bitcoin supply, which is capped at 21 million. Its rapid growth has also seen it become one of the most actively traded spot Bitcoin ETFs.

Data from SoSoValue further shows that most spot Bitcoin ETFs have seen continuous inflows, except for the Grayscale Bitcoin Trust (GBTC).

In total, the Bitcoin held by ETFs now amounts to nearly 1.1 million Bitcoin, a figure that is now close to the estimated Bitcoin holdings of its creator, known as Satoshi Nakamoto.

Institutional Bitcoin Holdings Compared

The IBIT ETF now also holds more Bitcoin than MicroStrategy, which is a leading corporate Bitcoin holder. According to recent filings, MicroStrategy acquired 15,400 Bitcoin at a cost of $1.5 billion, bringing its total holdings to 402,100 Bitcoin.

Another major corporate Bitcoin holder, Marathon Digital Holdings (NASDAQ:MARA), also added to its reserves in a big way, acquiring 6,484 Bitcoin over a two-month period at a total cost of $618.3 million.

With a total of 34,794 Bitcoin, MARA is now the second-largest corporate holder of the leading digital asset.

Highlighting the growing institutional interest in Bitcoin as a regulated investment, are the rising inflows into Bitcoin ETFs, such as the IBIT ETF from BlackRock. These products provide investors with a managed alternative to owning Bitcoin directly, which could influence the dynamics of the broader market.