BlackRock's Spot Bitcoin ETF Amassed 196,089 BTC

BlackRock's iShares Bitcoin Trust (IBIT) spot Bitcoin ETF has accumulated 196,089 BTC. The fund managed to reach this mark within 40 trading days.

According to HODL15Capital, IBIT was able to surpass MicroStrategy in this indicator. Let us remind you that the company holds 193,000 BTC. At the same time, its founder Michael Saylor is not going to sell Bitcoin in the short term.

Since the approval of spot Bitcoin ETFs in the US, the amount of cryptocurrency under IBIT's management has increased from 2,621 BTC to 196,089 BTC, representing over $13 billion at the time of writing. Thus, the fund's portfolio grew by more than 7000%.

Earlier, a representative of BlackRock said that the company is ready to increase the volume of bitcoin in its investment portfolio. As of February 14, this figure reached 105,280 BTC.

Note that Fidelity Investments' FBTC holds more than 124,000 BTC. The ARKB and BITB funds manage 37,649 BTC and 27,870 BTC, respectively.

Bloomberg analyst Eric Balchunas said the performance of spot Bitcoin ETFs exceeded his expectations. He also suggested that BlackRock's investment product will become the most successful in this asset category.