BlackRock Buys $3.85B in Bitcoin in June
BlackRock added a significant sum to its Bitcoin holdings in June, adding around $3.85 billion worth of BTC, according to blockchain analytics firm Arkham. The acquisitions included a $1.4 billion buy made in six consecutive days, demonstrating BlackRock’s growing confidence in the future worth of Bitcoin.
This momentum occurs as institutional demand for spot Bitcoin ETFs remains strong, with BlackRock being the clear leader in the space.
IBIT Now Tops IVV in Fee Revenue Annually
BlackRock’s iShares Bitcoin Trust (IBIT), which launched last January 2024, has fast become a behemoth in the U.S. spot Bitcoin ETF space. According to Bloomberg (July 2), IBIT is now topping BlackRock’s own S&P 500 ETF (IVV) in fee revenue per annum.
Even with IVV’s $624 billion in AUM overshadowing IBIT’s $52.4 billion, IBIT’s 0.25% fee has raked in the firm $187.2 million a year in fees—higher than the $187.1 million from IVV’s lower 0.03% fee.
Quickest ETF to Reach $70 Billion AUM
IBIT recently made history, too, as the fastest ETF to hit $70 billion in assets managed. It achieved this in just 341 days—approximately five times faster than the SPDR Gold Shares ETF, which took 1,691 days.
The fund presently holds over 55% of the overall U.S. spot Bitcoin ETF assets and accounts for 96% of the market’s net inflows.
BlackRock’s Total Bitcoin Holdings Top $80B
Following its June spree of shopping, BlackRock’s Bitcoin holdings are now valued at over 696,874 BTC, which is approximately $80.7 billion in today’s market value. The aggressive accumulation represents BlackRock’s wager on Bitcoin as a permanent institutional holding—and a bet that ETF-based access will remain the investors’ entry point of preference.
