BlackRock Bitcoin ETF Hits $91B AuM as Hot Inflation Data Pulls BTC Back from Record High
BlackRock’s spot Bitcoin ETF (IBIT) has reached a record $91.06 billion in assets under management, cementing its position as the leading U.S. Bitcoin ETF. According to SoSoValue, IBIT has accumulated $58.04 billion in net inflows since launching in January 2024, despite reporting no inflows on August 13. The ETF now holds 3.72% of Bitcoin’s total supply, with 54.82 million shares valued at $3.79 billion.
Fidelity’s FBTC ranks second with $24.77 billion in AuM and $12.07 billion in net inflows, followed by Grayscale’s GBTC at $22.18 billion despite $23.72 billion in outflows. Ark Invest’s ARKB manages $5.58 billion, while Bitwise’s BITB holds $5.02 billion — far behind BlackRock’s lead.
Bitcoin’s surge to an all-time high near $124,000 earlier in the week helped push ETF valuations higher, fueled by expectations of a potential 25-basis-point U.S. rate cut. However, hotter-than-expected July Producer Price Index (PPI) data triggered a sharp pullback, sending BTC below $118,000.
The sudden reversal wiped out $930 million in leveraged positions and drove over $1 billion in total crypto liquidations within 24 hours.
