ME News reports that, as of August 26 (UTC+8), Bitcoin rose approximately 20% over the past week, breaking above $80,000 for the first time since May. Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that the size of BlackRock’s spot Bitcoin ETF, IBIT, will continue to grow as the firm continues to expand access and allocation channels for investors seeking exposure to Bitcoin. BlackRock has lowered the minimum threshold for investors to exchange Bitcoin directly for IBIT shares from $25 million to $1 million. This mechanism allows qualified investors to convert their Bitcoin holdings directly into ETF shares without first selling Bitcoin on the market, potentially avoiding capital gains taxes triggered by asset sales. Since its launch, IBIT has become the fastest-growing ETF across multiple scale levels, currently representing over 765,000 Bitcoin holdings valued at approximately $60 billion. Mitchnick noted that real-world risks such as kidnapping, ransomware, and custody failures are driving some Bitcoin holders to shift all or part of their self-custodied assets into ETFs. Recent attacks on certain Coldcard hardware wallets have further intensified market concerns about the security of self-custody. Data shows that the 13 U.S. spot Bitcoin ETFs, led by IBIT, recorded their strongest weekly inflows in nearly 10 months. Talos researchers noted that Bitcoin’s recent 23% price surge and increased volatility rank among the highest in history, with similar patterns typically preceding above-average medium- to short-term returns. Unlike the May breakout, which lacked ETF-driven demand and subsequently reversed, this rally is supported by structural buying pressure not previously seen. (Source: ChainCatcher)
BlackRock's IBIT ETF Holds Over 765,000 BTC Amid Bitcoin's 20% Weekly Surge
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Summary
Bitcoin news emerged as BlackRock’s IBIT ETF surpassed 765,000 BTC, valued at approximately $60 billion, following Bitcoin’s 20% weekly gain above $80,000. Robbie Mitchnick stated the fund will continue growing as access expands. The minimum threshold to exchange Bitcoin for IBIT dropped to $1 million. Bitcoin analysis reveals rising inflows, as security concerns drive holders toward ETFs. Recent Coldcard attacks have raised doubts about self-custody. U.S. spot ETFs recorded their strongest weekly inflow in nearly 10 months.
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