BlackRock's spot Bitcoin ETF, IBIT, has surpassed 700,000 BTC ($76 billion) in assets under management just 18 months after its launch in January 2024.
According to the fund's website, IBIT had 698,919 BTC as of July 3, with an additional 1,510 BTC added on July 7, allowing it to surpass the milestone after the US Independence Day holiday.
Analysts highlight IBIT's rapid rise: it is now BlackRock's third highest revenue-generating ETF among 1,197 funds and is only $9 billion away from becoming the best-performing one.
The fund also surpassed Grayscale's GBTC in AUM more than a year ago and has maintained its lead ever since.