BlackRock's Institutional Bitcoin Trust Surpasses $20 Billion Threshold
CryptoNewsTerminal Staff05 Jun, 2024
BlackRock's Institutional Bitcoin Trust Surpasses $20 Billion Threshold
BlackRock's Institutional Bitcoin Trust (IBIT) has surpassed $20 billion in Bitcoin (BTC) holdings, according to blockchain analytics platform ARKAM Intelligence. This makes BlackRock one of the largest institutional holders of Bitcoin in the world. The IBIT was launched in August 2022 and allows institutional investors to gain exposure to Bitcoin through a regulated and custodial trust structure. The trust has quickly gained popularity among institutional investors, who are increasingly looking to add cryptocurrencies to their portfolios. The $20 billion milestone is a significant milestone for the IBIT and for BlackRock, as it demonstrates the growing institutional interest in Bitcoin. As more institutions adopt Bitcoin, the cryptocurrency is likely to become more mainstream and widely accepted.
