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BlackRock’s IBIT Extends Spot Bitcoin ETF Lead With More Than 100,000 BTC Under Management

Jimmy Aki
Last updated: | 1 min read
Spot Bitcoin ETF
Image by Jimmy Aki, Midjourney

Data published on February 13 revealed that BlackRock’s IBIT spot Bitcoin ETF had amassed over 100,000 bitcoins, positioning the firm as a clear leader in the 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 in its portfolio. The bitcoin haul is worth over $5.4 billion in market valuations.

The IBIT spot Bitcoin ETF also includes a minor fiat component totaling $80,698.75.

Zooming in on the number of shares, the 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, however, as it has surged 3,700% from its opening 2,621 BTC on January 11 to its current 105,280 BTC stash.

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. This is likely because the company charges 1.5% in fees, much higher than Fidelity’s 0.35% or BlackRock’s 0.25%.

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.

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, the IBIT spot Bitcoin ETF attracted $493.1 million, while Fidelity’s FBTC took in $163.6 million. Bitwise’s Bitcoin ETF (BITB) came in a distant third with $10.8 million.

Meanwhile, a recent report by HODL15Capital revealed legacy asset firms have amassed a major chunk of bitcoin. The report suggests these firms own 216,309 bitcoin worth over $11 billion, outranking MicroStrategy’s 190K BTC holdings.