Bitcoin ETF

Bitcoin

XRP ETF

BlackRock’s IBIT spot Bitcoin ETF has achieved a groundbreaking milestone with surpassing 500,000 BTC (worth $48 billion) in total assets, in less than a year after its debut on January 11, 2024.&nbsp;
On November 29, fund disclosures showed 496,854 BTC held, with a massive $338.3 million (3,526 BTC) inflow on December 2 tipping the total to 500,380 BTC. This represents 2.38% of Bitcoin’s 21 million supply, according to K33 <a href="https://x.com/VetleLunde/status/1863861210883518925" target="_blank" rel="noopener noreferrer nofollow">data</a>.
Vetle Lunde, K33’s Head of Research, lauded this achievement, <a href="https://www.ishares.com/us/products/333011/ishares-bitcoin-trust" target="_blank" rel="noopener noreferrer nofollow">stating</a>, “BlackRock’s 500,000 BTC milestone underscores a stellar launch year. It remains the third strongest ETF in the U.S., even surpassing Invesco’s QQQ in year-to-date flows.” With institutional ownership at 24% as of Q3 2024, IBIT is set for continued growth.
Bitcoin’s recent surge to $95,321, a 38% increase since March, has bolstered ETF inflows significantly. The U.S. spot Bitcoin ETFs collectively added $6.6 billion in November alone, with cumulative net inflows reaching $31.2 billion.
These ETFs are now closing in on Satoshi Nakamoto’s estimated holdings of 1.1 million BTC, a symbolic milestone.
Experts anticipate spot Bitcoin ETFs to gain traction as portfolio diversifiers for institutional investors, potentially achieving over 1 million BTC in assets under management.
Meanwhile, Ethereum ETFs are also gaining momentum, registering $24.2 million in net inflows on December 2, led by BlackRock’s ETHA.
The explosive growth of these ETFs highlights their role in bringing institutional capital into the crypto space, reshaping the market landscape.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/12/02/wisdomtree-files-for-spot-xrp-etf-in-the-u-s/" target="_blank" rel="noopener noreferrer nofollow">WisdomTree Files for Spot XRP ETF in the U.S.</a>
</blockquote>

BlackRock’s Bitcoin ETF Now Holds 500,000 BTC, Worth $47.7B

The Crypto Times

Other articles published on Dec 3, 2024

SUI’s Breakout vs Solana’s Stability: Who Wins in 2025?

MicroStrategy Shareholders Celebrate Stunning 9,850 BTC Profit Boost Last Week

Coinbase CEO Draws Ethical Line Over SEC Ties

Whale Purchases Boost Chainlink Market Confidence

Chainlink Whale Activity Soars: LINK Targets Massive 500% Rally

HyperLiquid HYPE Token Launch: Everything You Need to Know

Join our free newsletter for daily crypto updates!