586,823 Bitcoin (BTC) Now Held In BlackRock IBIT Portfolio

BlackRock, the world’s leading asset manager, has increased its BTC holdings in the iShares Bitcoin Trust (IBIT), its ETF product.

The asset manager’s cumulative holdings now stand at a staggering 586,823 BTC.

BlackRock’s Growing Dominance in the Bitcoin (BTC) ETF Market

This updated figure on the BlackRock official site represents its Bitcoin exposure as of February 13, 2025.

The approximate value of these holdings at a BTC market price of $96,074 stands at $56.38 billion.

The leading financial services provider was one of the 11 asset managers that got the nod from the U.S. Securities and Exchange Commission (SEC) to issue a spot Bitcoin exchange-traded fund (ETF) in January 2024.

Ever since, BlackRock’s IBIT performance has been outstanding, leading to positive net inflows.

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From January 30th till February 13th, BlackRock has maintained a constant inflow streak except for February 12th.

On this date, it registered an outflow of $22.1 million. Farside Investors data shows that the Bitcoin ETF market has suffered a consecutive streak of outflow in the last four days.

However, BlackRock recorded inflows on three out of those four days. Among the 11 asset managers, BlackRock has the highest cumulative inflow. So far, IBIT has $40.878 billion in inflows.

Impact of BlackRock’s In-Kind Redemption Filing

Meanwhile, BlackRock has continued to blaze the trail in the cryptocurrency world. In a notable move, the firm recently filed for an in-kind creation and redemption on its Bitcoin ETF.

The development follows the altcoin ETF filings after the exit of former SEC Chair Gary Gensler.

For clarification, BlackRock’s filing with the SEC seeks to make it possible for investors to redeem IBIT directly in BTC instead of fiat currency.

That way, authorized participants can offer users BTC for redemption instead of mandatorily selling the crypto for cash to settle them.

If granted regulatory approval, the impact would be huge and could lower fees for retail investors and prove more cost-efficient.

Analysts have argued that this in-kind redemption amendment for IBIT could also significantly impact crypto exchanges like Coinbase.

Notably, the amendment mandates Coinbase Custody to process withdrawals within 12 hours of getting instructions from IBIT.

This implies that withdrawals will become faster given the time limitation and could improve liquidity and access to Bitcoin assets. Additionally, it might boost investor confidence in the ETF.

Institutional Interest Continues to Surge in Bitcoin ETF

While BlackRock’s IBIT is the ETF market leader, the other asset managers have significantly contributed to the sector’s overall growth.

Notably, Fidelity’s FBTC has seen a bit of consistency in its inflow. FBTC has a total inflow of $12.404 billion. This gives an average daily inflow of $45.3 million.

WisdomTree’s BTCW has the least cumulative inflow of $250 million, averaging $0.9 million.

As for Grayscale’s GBTC, the asset has a cumulative outflow of $21.966 billion, averaging $80.2 million in the outflow.

Interestingly, more institutional players are indicating increased interest in Bitcoin ETFs. The sector has seen new holders like Barclays and Bank of Montreal.

This institutional interest extends to the UAE, where Abu Dhabi’s sovereign wealth fund, Mubadala, has significantly invested in the Bitcoin ETF.

In the first quarter of 2025, Mubadala committed $436 million, which signals traditional institutions’ growing acceptance of Bitcoin and other digital assets.