BlackRock's Bitcoin Fund Poised to Keep Growing Amid Price Surge
The Bitcoin price has surged over the last week, reaching $80,000 for the first time since May. This sudden increase has sparked hopes among crypto enthusiasts that the 2026 bear market could be coming to an end.
BlackRock's $60 billion bitcoin fund is poised to continue growing, according to Robbie Mitchnick, head of digital assets at BlackRock. In a recent interview, Mitchnick stated that 'it's going to keep growing because we keep expanding the access.'
The world's largest asset manager has lowered the minimum Bitcoin required for a direct swap into its IBIT fund from $25 million to just $1 million. This move allows investors to exchange their Bitcoin for BlackRock ETF shares without incurring capital gains taxes.
BlackRock's bitcoin fund has become the fastest ETF to reach most milestones, holding over 765,000 Bitcoin worth $60 billion on behalf of investors. The recent hack of Coldcard hardware wallets and growing physical attacks on people have motivated investors to switch their holdings to self-custody-free options.