Well, who would have thought it? BlackRock’s spot Bitcoin exchange-traded fund (ETF) has just crossed the 700,000 BTC mark, worth a staggering $75.5 billion, after a hefty $164.6 million inflow on Monday. 🚀
BlackRock, the world’s largest asset manager, now holds 700,307 BTC in its iShares Bitcoin Trust (IBIT) ETF, according to Apollo co-founder Thomas Fahrer. That’s a lot of digital dough, isn’t it? 🍞
BlackRock’s own iShares website shows IBIT held 698,919 BTC as of Thursday, and as such, the fund added 1,388 BTC in just two trading sessions. That’s like adding a small country’s GDP to your piggy bank! 🐷
IBIT accounts for more than 55% of the total BTC held in US spot Bitcoin ETFs, according to Bitbo. Since its inception in January 2024, the fund has delivered a total return of 82.67%. Not bad for a digital asset that some people still think is a Ponzi scheme. 🤷♂️
The recent Bitcoin milestone comes amid reports that BlackRock now earns more revenue from its IBIT fund than its flagship S&P 500 fund, iShares Core S&P 500 ETF. Talk about a digital coup! 🏆
Bitcoin Hoarding Outpaces Supply
Meanwhile, US Bitcoin exchange-traded funds, combined with Michael Saylor’s Strategy, the largest corporate holder of Bitcoin, have purchased more Bitcoin than the supply generated by miners almost every month this year, according to Galaxy Research. It’s like they’re trying to corner the market on digital gold. 🏦
Strategy and the US Bitcoin ETFs have collectively bought Bitcoin worth $28.22 billion in 2025, while Bitcoin miners’ net new issuance has amounted to $7.85 billion during the same period. That’s a bit of a lopsided race, isn’t it? 🏃♂️💨
As of June, the combined entities have bought more Bitcoin than the new supply being generated each month, except in February, when the combined entities sold Bitcoin worth $842 million. Even they need a break sometimes, I suppose. 🤷♀️
Regulators Warm Up to Crypto ETFs
Meanwhile, the United States Securities and Exchange Commission (SEC) is reportedly looking to simplify the crypto ETF approval process. Under the new structure, ETF issuers will only need to file Form S-1 and wait for 75 days. If the SEC has no objections, the issuer can list its ETF on the exchange. It’s like getting a driver’s license, but for digital assets. 🚗
Earlier this month, REX-Osprey Solana and Staking ETF became the first ETF in the US to offer investors exposure to a staked crypto ETF, with investors being given exposure to SOL along with its staking rewards. It’s like getting a free lunch, but in the form of digital tokens. 🍽️
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2025-07-08 09:24