BlackRock's iShares Bitcoin Trust (IBIT) held more than 662,500 BTC as of 10 June 2025 – over 3% of bitcoin's total supply, worth around $72.4 billion at the time (source [1]).
Fastest ETF to $70 billion
IBIT reached $70 billion in assets in just 341 trading days. The previous record holder, the SPDR Gold Shares ETF (GLD), took 1,691 days – about five times as long (source [2]).
Ahead of Binance and Strategy
With 661,457 BTC, IBIT was the largest institutional holder of bitcoin at the time, ahead of the exchange Binance (629,190 BTC) and Michael Saylor's Strategy (582,000 BTC) (source [3]). Only the coins attributed to Satoshi Nakamoto, estimated at around 1.1 million BTC, are more (source [1]).
Who holds the keys
BlackRock does not hold the private keys itself: Coinbase Custody stores the bitcoin for IBIT, largely offline (source [1]).
Why it matters
- Easy access: ETFs let investors gain bitcoin exposure through a normal brokerage account.
- Market signal: The world's largest asset manager treats bitcoin as a long-term investment.
- Concentration: At the same time, more and more coins sit with a few custodians – a topic we cover in our article on institutional concentration.
Sources
