BlackRock’s IBIT Spot Bitcoin ETF Surpasses 700,000 BTC, Leading U.S. Crypto Investment Landscape
BlackRock’s iShares Bitcoin Trust (IBIT) has officially crossed a major milestone, amassing more than 700,000 BTC in assets under management (AUM) — equivalent to approximately $76 billion — just 18 months after its launch in January 2024.
According to IBIT’s fund page, the ETF reached 698,919 BTC by July 3. A subsequent net inflow of about 1,510 BTC on July 7 propelled the fund beyond the 700,000 mark following the U.S. Independence Day weekend. The milestone was highlighted by Vetle Lunde, Head of Research at K33, and echoed by Nate Geraci, president of NovaDius Wealth Management, who called the achievement “ridiculous” in a post on X.
IBIT has surpassed 700,000 BTC under management pic.twitter.com/XkMdT7NVcQ
— Vetle Lunde (@VetleLunde) July 8, 2025
This rapid accumulation has made IBIT the third highest revenue-generating ETF for BlackRock out of its 1,197 offerings, according to Bloomberg ETF analyst Eric Balchunas. With only a $9 billion gap from the top spot, IBIT’s meteoric rise underscores the surging demand for institutional-grade Bitcoin investment vehicles.
$IBIT is now the 3rd highest revenue-generating ETF for BlackRock out of 1,197 funds, and is only $9b away from being #1. Just another insane stat for a 1.5yr old (literally an infant) ETF. Here's Top 10 list for BLK (aside, how about the forgettable $IWF at top spot, who knew?) pic.twitter.com/T4xdIA2Rea
— Eric Balchunas (@EricBalchunas) July 3, 2025
IBIT has also outpaced long-standing competitors. It overtook Grayscale’s GBTC — which initially led the market after converting from a private placement fund to a publicly traded ETF — just over a year ago. Grayscale’s holdings have since declined sharply, from 619,220 BTC to 184,226 BTC, as investors have shifted to lower-fee options.
Meanwhile, Fidelity’s FBTC has also outperformed GBTC, climbing to over 200,000 BTC in AUM, securing second place behind BlackRock.
Altogether, U.S.-listed spot Bitcoin ETFs now hold approximately 1.25 million BTC, or about 6% of Bitcoin’s total 21 million supply, based on CoinGlass data. BlackRock’s IBIT alone accounts for more than half (56%) of those holdings — significantly more than its closest competitor, Strategy, which holds 597,325 BTC (worth roughly $65 billion).
The broader Bitcoin ETF market in the U.S. is also experiencing record-breaking momentum. As of Monday, cumulative net inflows into U.S. spot Bitcoin ETFs surpassed $50 billion, bolstered by $1.2 billion in inflows over the past three trading days. Of that total, IBIT leads with $52.9 billion in inflows, despite offsetting $23.3 billion in outflows from Grayscale’s GBTC.
In terms of trading activity, IBIT also dominates. On Monday, it accounted for around 80% of the $2.9 billion in trading volume across all U.S. spot Bitcoin ETFs.