BlackRock is really making moves in the crypto space. Their spot Bitcoin exchange-traded fund (ETF) just hit an impressive milestone, crossing 700,000 BTC, roughly $75.5 billion worth. Oh, and that’s not all. They snagged an extra $164.6 million just this Monday. Yeah, you read that right.

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Source: Giphy

According to Apollo co-founder Thomas Fahrer, BlackRock now holds 700,307 BTC in its iShares Bitcoin Trust (IBIT) ETF. And if you check BlackRock’s own iShares website, it shows they were sitting at 698,919 BTC as of Thursday. So, in just two trading sessions, the fund added 1,388 BTC. Honestly, I think BlackRock's vault just keeps growing while we blink.

IBIT now accounts for more than 55% of all BTC held in US spot Bitcoin ETFs, according to Bitbo. Since launching in January 2024, the fund has delivered an insane 82.67% return. That’s right, 82.67%. For those of us still scrambling for 10% returns in the stock market, this is a bit mind-blowing.

And here’s the kicker: it’s reported that BlackRock now makes more revenue from IBIT than from its iconic S&P 500 fund, iShares Core S&P 500 ETF. Yeah, you heard that correctly. The same S&P 500 ETF that’s practically the face of traditional investing. But apparently, Bitcoin’s the new king.

Bitcoin Hoarding Outpaces Supply

Now, let’s talk about the Bitcoin supply. The US Bitcoin ETFs, combined with Michael Saylor’s corporate Bitcoin hoard (he’s the king of corporate Bitcoin), have been buying more BTC than miners can produce. According to Galaxy Research, Strategy and the US ETFs have snapped up a whopping $28.22 billion worth of Bitcoin in 2025 so far, while Bitcoin miners have only been able to generate $7.85 billion worth of new supply. So yeah, it’s safe to say that demand is absolutely outpacing supply.

For a bit of context, in June, the US ETFs and Strategy’s hoard bought more BTC than was mined, except in February, when they decided to sell $842 million worth of BTC instead. Classic move, right?

And speaking of crypto ETFs, the SEC seems to be getting a bit more lenient with crypto ETFs. It’s reportedly going to simplify the approval process, so if you're an ETF issuer, you’ll just have to file a Form S-1 and wait 75 days. If the SEC doesn’t throw up any objections, you're good to go! This is a massive shift, and if this is the direction things are heading, we might see even more ETFs flooding into the crypto space.

By the way, earlier this month, REX-Osprey Solana and Staking ETF became the first in the US to give investors exposure to a staked crypto ETF. It’s all about those staking rewards, baby!

In my opinion, this is just the beginning. If BlackRock keeps piling into Bitcoin while the ETFs and corporate players scoop up more BTC than miners can ever produce, we’re in for a wild ride ahead. Don’t blink.

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