News

Spot Bitcoin ETF: BlackRock’s IBIT Surpasses $10B in AUM

As the spot Bitcoin ETF market deepens adoption, more institutional investments have gone into BlackRock's IBIT sending its AUM to $10 billion
Published by
Spot Bitcoin ETF: BlackRock’s IBIT Surpasses $10B in AUM

Highlights

  • Spot Bitcoin ETF products recorded massive inflows through BlackRock
  • BlackRock's IBIT has surged to a $10B AUM
  • Bitcoin's price is in correction mode as profit taking moves loom

As of the close of trading on February 29, the spot Bitcoin ETF market was saved by the massive inflows registered by iShares Bitcoin Trust (IBIT), the offering linked to the leading investment asset management firm BlackRock. 

Advertisement

BlackRock’s Inflows Counterbalance Grayscale’s Outflows

Grayscale had a whopping $598.9 million in outflows on Thursday, a move that if not cushioned, would have crashed the spot Bitcoin ETF market significantly. This counterbalancing was provided by BlackRock’s IBIT which recorded a total of $604 million in inflows, sufficiently negating the impact of the huge fall from GBTC. Consequently, the total net inflows for all the ten spot Bitcoin ETFs were quite weak.

Collectively, the net inflows was brought to approximately $92 million. Notably, Grayscale’s GBTC outflows from Thursday happen to be the second largest that the firm has seen since the United States Securities and Exchange Commission (SEC) approved its Bitcoin ETF as well as those from other issuers. 

The outflow is suspected to be linked with Genesis’s decision to sell off its $1.3 billion worth of GBTC after receiving clearance from the court. Despite what the sentiment might be, BlackRock’s inflow confirms that there is still a growing interest from institutional investors who want to gain exposure to Bitcoin. 

In such a short while, the leading asset manager has surpassed $10 billion in Assets Under Management. 

Advertisement

BlackRock’s Spot Bitcoin ETF Hitting Multiple Milestones

Many market observers had expected the $10 billion threshold for a very long time, especially after considering the volumes of inflows that BlackRock registers on a daily basis. Earlier this week – February 27 – the spot Bitcoin ETF recorded a massive $520M inflow from a net inflow of $577 million and at the time, this came of as the largest inflow. 

By February 28, IBIT took it a notch further with an inflow of $612 million. Till date, this remains the largest inflow for the BlackRock spot Bitcoin ETF. With the asset manager hitting milestones, it is obvious that BlackRock is performing better than was predicted.

Generally, it is believed that the growth of the spot Bitcoin ETF is responsible for the recent price rally of the flagship cryptocurrency Bitcoin. The price of the coin has surpassed $60,000 as it is conveniently sitting at $61,790.37 even with a 1.98% decrease within the last 24 hours. The rise may be a driver for investors who intend to take in some profits, capitalizing on the momentum of the asset thus far.

Advertisement
Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Will Crypto Market Rebound or Crash Ahead as 10X Research Tips Shorting Ethereum?

Bitcoin, Ethereum, XRP, and other altcoins tumbled amid the latest crypto market crash. Over $1.2…

October 31, 2025
  • News

Sam Bankman-Fried Says FTX Was “Never Bankrupt,” Crypto Community Reacts

Sam Bankman-Fried (SBF) team on Friday revealed an estimated $136 billion in petition-date holdings of…

October 31, 2025
  • News

XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks

Asset manager Canary Capital has submitted an updated S-1 filing to bring its spot XRP…

October 31, 2025
  • News

Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch

Canary Funds has filed an updated S-1 registration for its XRP spot exchange-traded fund (ETF).…

October 31, 2025
  • News

CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement

The U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have entered…

October 31, 2025
  • News

Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days

The U.S. Senate committee is set to release an updated draft of the Crypto Market…

October 30, 2025