BlackRock’s iShares Bitcoin Trust Holds 3% of Total Bitcoin Supply

BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the second-largest holder of Bitcoin, trailing only the wallet of Satoshi Nakamoto, the pseudonymous creator of the cryptocurrency. As of May 20, IBIT holds 636,108 BTC, which represents over 3% of Bitcoin’s total capped supply of 21 million and nearly 57% of Nakamoto’s estimated 1.12 million BTC stash.

This significant holding places BlackRock ahead of major entities such as Binance, the largest crypto exchange by trading volume, and Strategy, the largest corporate holder of the bellwether asset. The rapid accumulation of Bitcoin by IBIT underscores the growing institutional interest in the cryptocurrency market.

An analyst suggested that, depending on how Bitcoin performs in the market, the ETF’s Bitcoin holdings could overtake Satoshi’s by next summer. This timeline could accelerate if the asset’s price approaches $150,000. Such a surge might prompt widespread institutional demand, particularly from financial advisors reallocating client assets into Bitcoin exposure.

Since its launch in January 2024, IBIT has become a dominant player in the Bitcoin ETF space. The fund has consistently outpaced other ETFs in inflows and asset growth, including traditional vehicles such as gold ETFs. Its rise has been fueled by growing demand from institutions and retail investors seeking regulated exposure to Bitcoin.

According to data, BlackRock’s IBIT held $66.9 billion in net assets as of May 19, making it the largest Bitcoin ETF by value. This milestone highlights the increasing acceptance of Bitcoin as a legitimate investment asset and the growing confidence in regulated financial products that offer exposure to the cryptocurrency.