The world's largest asset management company, BlackRock, has surpassed a holding of 700,000 bitcoins, valued at approximately $75.5 billion, after recording an inflow of $164.6 million into its spot bitcoin exchange-traded fund on Monday.
Apollo co-founder Thomas Fahrer noted that BlackRock currently holds 700,307 bitcoins in its iShares Bitcoin Trust (IBIT) ETF.
According to the official iShares website, as of Thursday, IBIT holds 698,919 bitcoins, indicating that the fund has increased its holdings by 1,388 bitcoins in just two trading days.
Data from Bitbo shows that IBIT accounts for over 55% of the total bitcoin held by U.S. spot bitcoin ETFs. Since its inception in January 2024, the fund has achieved a total return of 82.67%.
This bitcoin milestone coincides with reports that the revenue BlackRock has generated from the IBIT fund has now surpassed that of its flagship product, the iShares Core S&P 500 ETF.
Research from Galaxy indicates that the combined purchases of U.S. bitcoin exchange-traded funds and the largest corporate bitcoin holder, Michael Saylor's Strategy company, have exceeded the bitcoin supply generated by miners almost every month this year.
From 2025 to date, Strategy and U.S. bitcoin ETFs have jointly purchased $28.22 billion worth of bitcoin, while the net new issuance from bitcoin miners during the same period was only $7.85 billion.
As of June, the total bitcoin purchased by these entities consistently exceeded the monthly new supply, with only February being an exception, when these entities collectively net sold $842 million worth of bitcoin.
Meanwhile, reports indicate that the U.S. Securities and Exchange Commission is seeking to streamline the approval process for crypto ETFs.
Under the new framework, ETF issuers only need to submit an S-1 form and wait 75 days. If the SEC has no objections, the issuer can list its ETF product on the exchange.
Earlier this month, the REX-Osprey Solana and Staking ETF became the first fund in the U.S. to provide investors with exposure to a staking crypto ETF, allowing investors to earn returns from both SOL and its staking rewards.
Related: Turkish authorities block PancakeSwap in a crackdown on crypto websites.
Original article: “BlackRock iShares Bitcoin ETF Surpasses 700K BTC”
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