BlackRock's iShares Bitcoin Trust (IBIT) has solidified its leadership in the U.S. spot Bitcoin ETF market, reaching a new record of $91.06 billion in assets under management. This milestone widens its lead over competitors, with the fund holding 3.72% of the total Bitcoin supply. The ETF's impressive momentum, which includes attracting over $5 billion in net inflows in its first month, demonstrates strong investor trust and its ability to capture significant market share.
While other ETFs like Fidelity's FBTC have also seen growth, none have come close to matching IBIT's scale. For example, FBTC manages $24.77 billion, less than a third of IBIT's total. Meanwhile, Grayscale's GBTC has experienced significant outflows since its conversion.
The article also highlights a recent drop in Bitcoin's price from a high of $124,000 to below $118,000. This plunge was triggered by hotter-than-expected U.S. inflation data, which dampened hopes of a quick interest rate cut. The sudden price drop resulted in over $1 billion in crypto liquidations, with more than $930 million in leveraged Bitcoin positions alone.
Despite this market volatility, IBIT's net asset value adjusted downward, but the fund continued to attract investor interest. This resilience suggests that IBIT's investor base is focused on long-term exposure rather than short-term speculation, reinforcing its position as a stable and preferred investment vehicle in the volatile crypto market.
August 2025, Cryptoniteuae