IBIT Surpasses 706,000 BTC in Holdings

As of July 10, total inflows into spot Bitcoin ETFs hit $1.175 billion, led by IBIT. With this surge, the fund now holds an astonishing 706,000 BTC, setting a new record and outpacing even long-time institutional holders like MicroStrategy.

To put things in perspective, the world’s largest gold ETF—SPDR Gold Shares (GLD)—took over 15 years to reach a comparable AUM. Meanwhile, IBIT reached this level in just 200 trading days, underscoring the dramatic rise in institutional demand for Bitcoin.

Trading Volume Soars Past $5 Billion

According to Bloomberg ETF strategist Eric Balchunas, IBIT recorded a $5 billion daily trading volume on July 10, nearly double its average. The previous day’s volume was $3.5 billion. Balchunas noted that these volume spikes—especially during Bitcoin price rallies—are a strong sign of institutional inflows, or as he calls them, “big boy flows.”

Analysts expect this momentum to continue, with another $1 billion in ETF inflows potentially arriving over the next few sessions.

Bitcoin Hits $118K, IBIT Price Climbs

Fueled by heavy inflows and market confidence, Bitcoin surged to $118,000, setting a new all-time high. Meanwhile, the IBIT share price climbed to $66 in after-hours trading on July 10. Technical analysts suggest the rally could push IBIT toward the $77–$80 range in the near term.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post BlackRock’s IBIT Breaks Record as the Fastest-Growing Bitcoin ETF appeared first on Coin Engineer.