The iShares Bitcoin Trust (IBIT), BlackRock's spot Bitcoin ETF, has achieved a significant milestone, holding 500,380 Bitcoin as of December 2nd. 

At current market prices, these holdings are valued at approximately $48 billion. 

BlackRock emphasizes that the ETF provides a straightforward option for investors to gain Bitcoin exposure without the complexities of direct ownership.

ETF Market Dynamics and Bitcoin Holdings

The IBIT ETF currently accounts for 2.38% of Bitcoin’s total supply, capped at 21 million. Its rapid growth has made it one of the most actively traded spot Bitcoin ETFs. 

According to data from SoSoValue, most spot Bitcoin ETFs have experienced steady inflows, with the exception of the Grayscale Bitcoin Trust (GBTC). 

Collectively, the Bitcoin held by ETFs is approaching 1.1 million Bitcoin, a figure associated with the estimated holdings of Bitcoin’s creator, Satoshi Nakamoto.

Institutional Bitcoin Holdings Comparison

The IBIT ETF’s Bitcoin holdings now exceed those of MicroStrategy, a prominent corporate Bitcoin holder. Recent filings show that MicroStrategy purchased 15,400 Bitcoin for $1.5 billion, bringing its total to 402,100 Bitcoin.

Marathon Digital Holdings (MARA), a leading Bitcoin mining firm, also expanded its reserves, acquiring 6,484 Bitcoin for $618.3 million during a two-month period. 

With a total of 34,794 Bitcoin, MARA is now the second-largest corporate Bitcoin holder.

Institutional Adoption Trends

The rise of Bitcoin ETFs like BlackRock’s IBIT highlights growing institutional interest in Bitcoin as a regulated investment vehicle. 

These products offer investors a managed alternative to direct Bitcoin ownership, potentially influencing the dynamics of the broader market.

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