BlackRock's Spot Bitcoin ETF Asset Management Scale Exceeds 500,000 BTC

BlackRock's IBIT has surpassed 500,000 bitcoins (approximately $48 billion) in assets under management on Monday, less than a year after the fund began trading on January 11th.

As of November 29th, BlackRock's bitcoin ETF had accumulated 496,854 bitcoins, according to the latest fund disclosures. According to K33 data, the fund received a net inflow of $338.3 million (approximately 3,526 bitcoins) in value yesterday, pushing it past this milestone to reach 500,380 bitcoins, or 2.38% of the total bitcoin supply (21 million).

Vetle Lunde, research director at K33, said that BlackRock's surpassing of 500,000 bitcoins is another important milestone after its brilliant launch year. In terms of fund inflows from the beginning of the year, it is still the third-largest ETF product in the United States, surpassing the Invesco QQQ Fund, which has a size of $314 billion.