BlackRock's iShares Bitcoin Trust Hits Record Valuation Amidst Institutional Demand Surge

BlackRock's iShares Bitcoin Trust has made significant strides in the crypto market, reaching a record high valuation of $63.7 billion. The fund's portfolio now comprises approximately 806,700 BTC, with its steady buying activity contributing to a lead position in the spot-ETF race.

The recent surge in institutional demand for Bitcoin is evident in the net inflows recorded by the fund over the past nine trading days. During this period, IBIT added around 21,500 BTC to its portfolio, solidifying its status as one of the largest holders of the cryptocurrency.

Industry flow trackers indicate that the broader U.S. spot Bitcoin ETF market has also experienced a turnaround, with net inflows reaching $335.8 million in a single session. IBIT accounted for the majority of these inflows, underscoring its dominant position in the market.