IBIT, BlackRock's Bitcoin ETF, surpassed $21 billion in assets under management last Thursday, just five months after its January 11 launch.
According to the fund's website, IBIT now has 302,534 BTC, with net inflows of about 4,920 BTC on Thursday, pushing it over the $21 billion mark.
IBIT recently overtook Grayscale's GBTC in terms of assets under management, surpassing the first Bitcoin ETF that had a head start on its competitors.
GBTC initially operated as a private placement fund before trading publicly on the OTC market in 2015 and eventually becoming an ETF earlier this year.
Compared to its competitors, GBTC charges a higher fee of 1.5%. This has led to a decrease in its Bitcoin holdings after conversion by approximately 54%.