The financial world got a jolt in January 2024 when BlackRock, a titan of traditional investing, launched its iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF.
Picture the old-school Wall Street suits, with their leather briefcases and polished loafers, suddenly diving into the wild, digital frontier of Bitcoin.
It’s a clash of eras—starched collars meeting blockchain code.
Yet, BlackRock didn’t just dip a toe; they cannonballed in, holding Bitcoin directly in cold storage through Coinbase Custody.
BlackRock dove headfirst into Bitcoin, not just testing the waters but plunging deep, securing their stash in cold storage via Coinbase Custody.
By April 2024, IBIT gripped 215,692 BTC, a number that swelled to 276,759 by mid-May.
Fast forward to April 2025, and reports whisper of holdings nearing 586,000 BTC—almost 3% of Bitcoin’s total 21 million supply.
That’s a digital vault heavier than some countries’ gold reserves.
Now, let’s talk money, the kind that makes jaws drop.
IBIT’s Assets Under Management (AUM) blasted past $1 billion in its first trading week, then hit $10 billion in just seven weeks—the fastest ETF growth ever recorded.
With U.S. crypto market reaching $557.8 million in 2024, the timing couldn’t have been better for institutional investors.
Remarkably, IBIT was the first Bitcoin ETF to surpass $1 billion AUM in its debut week among recent launches.
By April 2024, AUM sat at $13.2 billion, but later reports hint at a staggering $50-56 billion.
Imagine the hum of server rooms tracking these billions, a far cry from the clinking coins of yesteryear’s banking.
Inflows? Relentless.
Weekly averages of 2,640 BTC poured in post-launch, with single-day hauls like $643.2 million in April 2025.
Even when the broader Bitcoin ETF market stumbled, IBIT often stood tall, a stubborn oak in a stormy field.
Skeptics might scoff, wondering if this is just a flashy fad for BlackRock.
But the numbers don’t lie—IBIT claimed over 50% market share among US spot Bitcoin ETFs by February 2025, dwarfing rivals like Fidelity’s FBTC.
As of March 26, BlackRock’s spot Bitcoin ETFs manage an impressive $49.68 billion in assets, leading the market significantly.
It’s as if the old guard decided to rewrite the rules, outpacing even MicroStrategy’s corporate stash.
Still, one can’t help but ponder: will this digital gold rush endure?
The glow of computer screens tracking IBIT’s rise offers no certain answer, only the thrill of a gamble.
For now, BlackRock’s stake, nearing 3% of all Bitcoin, signals a seismic shift—traditional finance isn’t just watching; it’s playing to win.
