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Post: BlackRock’s Spot Bitcoin ETF Surpasses 100,000 BTC Milestone: A Testament to Institutional Investor Adoption

BlackRock’s Spot Bitcoin ETF Surpasses 100,000 BTC Milestone: A Testament to Institutional Investor Adoption

Key Points:

  • The iShares Bitcoin Trust (IBIT), part of BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF), has surpassed 100,000 BTC under management.
  • IBIT accumulated 105,280 BTC in holdings on February 13, making it the first spot Bitcoin ETF in the US to reach this milestone.
  • This achievement is significant for BlackRock, which has been aggressively buying BTC since launching its ETF on January 11, 2024.

BlackRock’s Spot Bitcoin ETF Achieves 100,000 BTC Milestone

BlackRock’s iShares Bitcoin Trust (IBIT) has successfully surpassed the milestone of 100,000 BTC in managed assets, according to official data from the company. On February 13, IBIT reported holdings of 105,280 BTC, making it the first spot Bitcoin ETF in the United States to reach this significant milestone. This achievement is a testament to BlackRock’s aggressive BTC buying since launching its ETF on January 11, 2024, alongside ten other issuers.

Hot Take:

The rapid accumulation of spot Bitcoin ETF shares, particularly by BlackRock’s iShares Bitcoin Trust (IBIT), indicates a growing investor interest in gaining exposure to Bitcoin through regulated investment vehicles. This milestone reached by IBIT demonstrates the adoption and acceptance of Bitcoin by institutional investors, further legitimizing the cryptocurrency as an asset class. As more investors continue to accumulate Bitcoin through spot ETFs, it could potentially contribute to the upward price pressure on Bitcoin, creating a positive market environment for cryptocurrency investors.

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