BlackRock's Bitcoin ETF Grabs 100,000 BTC, Sparks Market Frenzy

Sentiment: Positive

In a groundbreaking achievement, BlackRock's iShares Bitcoin Trust (IBIT), a U.S. spot Bitcoin exchange-traded fund (ETF), has surged past the 100,000 BTC milestone, setting a record for the nascent ETF just 22 days after its launch on January 11th, 2024.

The meteoric rise of IBIT showcases BlackRock's aggressive approach, catapulting its Bitcoin holdings by an astonishing 3,700% since its inception. This rapid expansion mirrors the remarkable ascent of the broader spot Bitcoin ETF market, with IBIT alone attracting an impressive $493 million on February 13th, contributing to a combined net inflow of $631.3 million.

Market Dynamics and Speculations

Observers are buzzing with speculation about the challenges BlackRock faced in meeting this surging demand, with rumors suggesting purchases from Coinbase to fulfill the mounting interest. This underscores the overwhelming investor appetite for Bitcoin, currently trading above $51,000 and reclaiming a $1 trillion market capitalization, a feat achieved for only the second time in history.

The news aligns seamlessly with Bitcoin's robust performance, breaching the $51,000 mark for the first time since November 2021. This bullish trend has propelled the Crypto Fear & Greed Index to levels reminiscent of Bitcoin's all-time high in November 2021.

Institutional and Retail Interest

While BlackRock has remained tight-lipped about the 100,000 BTC milestone, IBIT's triumphant journey and the broader momentum in the Bitcoin market hint at a compelling narrative of heightened institutional and retail investor interest in the cryptocurrency.

Key Points Summarized:

  • IBIT emerges as the first U.S. spot Bitcoin ETF to amass over 100,000 BTC.

  • BlackRock's aggressive buying spree underscores the immense demand for Bitcoin.

  • Record-breaking daily inflows into spot Bitcoin ETFs underscore market enthusiasm.

  • Bitcoin's resurgence beyond $51,000 and its $1 trillion market cap recovery contribute to optimistic sentiments.


The unprecedented growth of BlackRock's IBIT and the broader spot Bitcoin ETF market underscores a paradigm shift in investor sentiment towards cryptocurrencies. As Bitcoin reclaims its position in the financial spotlight, the stage is set for further exploration and innovation within the rapidly evolving crypto landscape.

About the Author

Enthusiastic writer whose current area of interest is the blockchain sector. When not writing, you will find her reading essays on sociology and playing/listening to music. Firm believer that crypto will transform the world.

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