BlackRock’s Spot Bitcoin ETF Breaks Records with 414 Holders

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As a researcher with experience in the financial industry, I find the rapid growth of iShares Bitcoin Trust (IBIT) since its launch in January to be truly remarkable. The fact that it managed to attract 414 reported holders in its first 13F season is mind-boggling and sets a new record for new ETFs. Even having just 20 holders as a newborn ETF is considered highly unusual.

BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has received accolades from Eric Balchunas, an analyst at Bloomberg ETF, for amassing an impressive number of investors in its initial 13F filing period. This marks a new record, as over 400 institutional investors have reportedly shown interest, a figure that is unusually high for a debut ETF.

As an analyst, I find it astonishing that $IBIT reported a total of 414 holders during its first 13F filing period, surpassing previous records by a significant margin. Even having just 20 holders at the onset is considered noteworthy and quite unusual in this industry. Let’s examine how Bitcoin ETFs from the January 2024 class (launched around that time) compare to $IBIT with regard to this metric for a more comprehensive perspective.

— Eric Balchunas (@EricBalchunas) May 16, 2024

After debuting in January, IBIT has experienced remarkable expansion, increasing its assets under management from none to a staggering $16.65 billion according to recent figures. This meteoric rise has positioned IBIT as the preferred choice for investors seeking a spot bitcoin ETF.

As a researcher studying institutional ownership of IBIT, I found that Millennium Management holds the largest stake with approximately $844 million worth of shares. Not far behind are Schonfeld Strategic Advisors, who hold around $248 million in IBIT stock, and Aristeia Capital, which owns about $163 million in IBIT shares based on Fintel’s latest data.

As a researcher, I’ve uncovered some intriguing information from the recent 13F filings. These documents shed light on which financial institutions chose to invest in IBIT during the first quarter of 2024. The significant investment inflow into IBIT is an indicator of increasing institutional appetite for bitcoin-related investment products. This trend bodes well for BlackRock’s entry into the spot bitcoin ETF market, signaling a promising debut.

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2024-05-17 08:20