BlackRock IBIT Hits Record 806,700 BTC in Holdings
BlackRock's iShares Bitcoin Trust recorded ₱16.21 billion ($269.3 million) in single-day inflows on April 9, reversing a two-week outflow pattern and helping drive total Bitcoin ETF inflows to ₱21.55 billion ($358.1 million) for the day.
Key Takeaway
BlackRock's IBIT now controls more Bitcoin than some small countries' entire reserves.
BlackRock's iShares Bitcoin Trust reached an all-time high of 806,700 BTC in holdings, worth ₱3.83 trillion ($63.7 billion).
The milestone comes after IBIT recorded ₱16.21 billion ($269.3 million) in single-day inflows on April 9, marking its strongest inflow since early March. That reversed a two-day outflow pattern across Bitcoin ETFs and helped push total Bitcoin ETF inflows to ₱21.55 billion ($358.1 million) for the day.
Fidelity's Wise Origin Bitcoin Fund captured the second-highest inflow at $53.3 million. Morgan Stanley Bitcoin Trust pulled in $14.9 million on just its second trading day, offering a lower 0.14% expense ratio compared to IBIT's 0.25% fee.
BlackRock now faces fresh competition from Strategy, the company formerly known as MicroStrategy, which briefly held 815,061 BTC after an acquisition. That gave Strategy a temporary edge over BlackRock's then-802,823 BTC position.
BlackRock launched a second Bitcoin product called iShares Bitcoin Premium Income ETF, which holds IBIT shares and writes covered call options to generate yield. Bloomberg ETF analyst Eric Balchunas estimated the management fee around 38 basis points, with Coinbase Custody and BNY Mellon handling service duties.
This article was written based on reporting from BeInCrypto.
