BlackRock Clients Scoop Up Over $115M Worth of Bitcoin Through Dominant ETF

BlackRock's clients have made another significant purchase of Bitcoin through the iShares Bitcoin Trust (IBIT), acquiring 1,495 BTC worth approximately $115.45 million.

This transaction is part of a larger trend where IBIT has captured roughly 75% of new capital flowing into US spot Bitcoin ETFs in recent months.

As of late August, IBIT managed around $59 billion in assets under management, making it the largest US spot Bitcoin ETF by assets. The fund's 0.25% expense ratio since its launch in January 2024 has contributed to its dominance in the market.

The clients buying into IBIT include pension funds, endowments, and wealth management firms seeking regulated vehicles for crypto exposure, treating Bitcoin as a component of diversified strategies rather than a speculative bet.