BlackRock's Spot Bitcoin ETF Surpasses 500,000 BTC
BlackRockโs IBIT spot Bitcoin ETF has surpassed 500,000 BTC in assets under management, equivalent to around $48 billion, less than a year after its January launch. This milestone positions the ETF as a major force in the market, holding 2.38% of Bitcoinโs total supply and outpacing even Satoshi Nakamoto's estimated 1.1 million BTC holdings. Analysts believe IBIT could eventually amass over 1 million BTC as Bitcoin adoption accelerates.
Source: The Block