BlackRock's Bitcoin Trust Surpasses 700K BTC

Photo by Kanchanara on Unsplash

BlackRock’s iShares Bitcoin Trust just hit a number that’s hard to ignore, more than 700,000 BTC under management, which didn’t happen overnight, mind you. Most people following the charts saw it coming in bits and pieces, with a steady climb. Now, the trust holds more Bitcoin than most centralized exchanges, which says something, especially with how much liquidity still churns through places like Coinbase or Kraken, even on quiet weeks.

Despite what some may think, this isn’t simply another investment vehicle scooping up digital assets. BlackRock moving this far into Bitcoin sends a message that’s being quietly absorbed by traders, analysts, and institutions. 

Traders Pivot as Retail Ramps Up

Retail hasn't been asleep either, as traders have been getting more active on platforms like Coin Futures, mainly because of the price moves and volatility spikes. Some run short cycles, and a few just poke around to see what sticks. Platforms like that were niche once, but now they’re part of the routine for a good amount of traders who want speed, leverage, or both. 

Something about BlackRock’s IBIT becoming the fastest-growing ETF feels different. BlackRock’s iShares Bitcoin Trust (IBIT) has now reached a record-breaking $80 billion in assets under management just 374 days after its launch, smashing the previous record, Vanguard’s VOO took 1,814 days) by nearly fivefold. It now holds roughly 700,000 BTC (about 3.5 % of the total Bitcoin supply), and IBIT alone commands over half of the $140+ billion invested in U.S. spot Bitcoin ETFs. 

Daily inflows have topped $1 billion, $448 million into IBIT on July 10, and trading volumes surged past $5 billion, signaling heavy institutional interest. As Bitcoin itself breaks new all-time highs (recently above $118 k), this AUM climb suggests a deeper institutional shift; IBIT isn’t just riding a wave; it’s fueling one.

A Shift You Hear, Not See

The broader community is picking up on it too, not in headlines, but in chats, forum threads, and casual remarks. There’s a nervous sort of energy again that’s not quite panic but more like pacing. Some people are buying, while others are just watching or updating cold storage setups like it’s spring cleaning. It’s quiet prep work, the kind of thing people do when they’re not quite sure, but don’t want to be caught out.

Similar moments have been logged before, but none with this kind of silent weight behind them. In 2017 or even 2021, big moves like this would’ve come with noise. Now? It just shows up in the numbers, and people catch it late, maybe while scanning charts over morning coffee, it doesn’t always make headlines, but it still rocks the boat.

Bitcoin in the Background

Big-name outlets like Reuters and Bloomberg have started folding it into their updates, tucked between other financial tickers. That’s probably the biggest change. Bitcoin’s not the disruptor screaming for attention anymore, it’s just there now, right next to everything else. Slipped into portfolios, logged beside bonds and equities, treated more like a known asset than some risky outlier.