BlackRock: IBIT will continue to grow in scale, and currently holds over 765,000 Bitcoin.

According to Forbes, Bitcoin rose approximately 20% over the past week, breaking above $80,000 for the first time since May. BlackRock Digital Assets head Robbie Mitchnick stated that the size of the firm’s Bitcoin spot ETF IBIT “will continue to grow” as BlackRock expands investor access to and allocation channels for Bitcoin. The asset manager has lowered the minimum threshold for investors to directly exchange Bitcoin for IBIT shares from $25 million to $1 million. This mechanism allows eligible investors to convert their Bitcoin holdings directly into ETF shares without first selling Bitcoin on the market, potentially avoiding capital gains taxes from asset sales. Since its launch, IBIT has become the fastest-growing ETF across multiple size metrics, currently holding over 765,000 Bitcoin for investors, valued at roughly $60 billion. Mitchnick noted real-world risks including kidnappings, ransomware, and custody failures are driving some Bitcoin holders to shift all or part of their self-custodied assets into ETFs. Recent attacks on some Coldcard hardware wallets have further heightened market concerns about the security of self-custody. Data shows the 13 U.S. Bitcoin spot ETFs, led by IBIT, recorded their strongest single-week capital inflow in nearly 10 months. Talos researchers said Bitcoin’s roughly 23% weekly gain and corresponding volatility increase rank among the highest in history, with similar trends typically linked to above-average short-to-medium-term returns. Unlike the May breakout, which lacked ETF inflow support and subsequently pulled back, this week’s rally is backed by unprecedented structural buying pressure.