BlackRock's iShares Bitcoin Trust (IBIT) has held a cumulative total of 734,762 bitcoins worth approximately US$47.1 billion. Institutional investors 'demand for regulated Bitcoin exposure continues to grow, driving continued inflows into the fund.
The dominant force in the spot bitcoin ETF field
Since its launch in January 2024, IBIT has established an overwhelming lead among similar spot bitcoin ETF products. BlackRock's funds account for approximately 49% of the total assets of the U.S. spot Bitcoin ETF, far ahead of competitors such as Fidelity's FBTC and Gray GBTC. Since its launch in January 2024, IBIT's cumulative capital inflows have been approximately US$62 billion, highlighting the large-scale investment in the product by institutional investors in a relatively short period of time.
BlackRock holds Bitcoin positions mainly through IBIT and are one of the world's largest institutional Bitcoin reserves. Due to its ETF structure, BlackRock does not technically directly own these bitcoins, but is held by the custodian for IBIT shareholders. Shares of the iShares Bitcoin Trust ETF are traded on the Nasdaq Stock Market under the symbol IBIT, and Coinbase Custody Trust serves as the custodian of the fund's Bitcoin holdings.
Institutional needs and turbulence in 2026
The road to $47 billion has not been smooth sailing. In April 2026, the U.S. spot Bitcoin ETF attracted US$1.97 billion in capital inflows, the best monthly performance of the year, with BlackRock's IBIT leading institutional demand. BlackRock's iShares Bitcoin Trust accounted for most of the April inflows, attracting approximately $2 billion in net subscriptions. However, market sentiment took a sharp turn in the following weeks. In June 2026, the U.S. spot Bitcoin ETF recorded a net outflow of US$4.06 billion, setting the largest monthly redemption since the product was launched in January 2024, of which BlackRock IBIT accounted for approximately US$3.3 billion, equivalent to 75% of the total monthly outflow.
Despite these outflows, the fund's overall bitcoin reserves remain at historically high levels, reflecting continued long-term structural demand from institutional allocators seeking regulated bitcoin exposure. The inflow of funds from spot bitcoin ETFs has become one of the most important signals to measure institutions 'demand for bitcoin in 2026, making IBIT's position data an indicator that is closely watched by traditional financial and cryptocurrency markets.

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