Bitcoin · Bitcoin ETF · Coinbase · Crypto Briefing
BlackRock clients buy $108 million worth of Bitcoin through IBIT as institutional demand holds firm
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BlackRock's spot Bitcoin ETF continues pulling in nine-figure daily inflows, cementing its dominance over the US crypto ETF market.
Key facts
- BlackRock made a quiet but consequential product change in 2026, cutting the minimum threshold for in-kind conversions from $25 million down to $1 million
- Since its launch in January 2024, IBIT has grown into the dominant force in US spot Bitcoin ETF market, routinely capturing between 50% and 80% of total daily or weekly inflows across all competing
- Dropping the minimum from $25 million to $1 million expanded participation to family offices, smaller RIAs, and high-net-worth individuals who were previously priced out of the conversion mechanism
- BlackRock clients purchased $108.44 million worth of Bitcoin in a single session through the firm’s iShares Bitcoin Trust, known as IBIT
Summary
BlackRock clients purchased $108.44 million worth of Bitcoin in a single session through the firm’s iShares Bitcoin Trust, known as IBIT. Since its launch in January 2024, IBIT has grown into the dominant force in US spot Bitcoin ETF market, routinely capturing between 50% and 80% of total daily or weekly inflows across all competing products. IBIT’s holdings have swelled to somewhere between 770,000 and 786,000 BTC, making BlackRock one of the largest institutional holders of Bitcoin on the planet, even though the firm itself holds none of it on its balance sheet. Custody runs through Coinbase Prime, which handles the underlying Bitcoin on behalf of the trust.