BlackRock buys 318 Bitcoins as Fidelity sells 1,210 Bitcoin

BlackRock revealed that it purchased 318 Bitcoin as the U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) hit one year after being approved and launched. Fidelity also sold 1,210 Bitcoins from its Fidelity Physical Bitcoin ETP (FBTC).

BlackRock added more BTC to its $11 trillion in assets under management, and Nate Geraci, president of the advisory firm, The ETF Store, believes IBIT could surpass SPDR Gold Shares. Nasdaq also argued that the increase in position and exercise limit for IBIT was necessary to accommodate its large market presence.

Analysts say IBIT reached new milestones fast 

BlackRock’s Bitcoin ETF increased its BTC holdings after it purchased another 318 BTC. Bloomberg Intelligence analyst James Seyffart said that he considered IBIT’s growth to be unprecedented. He also added that IBIT is the fastest ETF to reach most milestones, faster than any other ETF in any asset class. He also believes that IBIT can expect to earn about $112 million a year at the current asset level and expense ratio of 0.25%.

Fidelity also announced the sale of 1,210 Bitcoins, which added to its previous sell-off in 2024. The firm also sold 2,140 Bitcoin in late December 2024. Data from ETF Database showed that Fidelity currently has over $111 billion in total assets.

Data from SoSoValue revealed that BlackRock’s IBIT was the best-performing crypto product, with over $37.7 billion in cumulative net inflows since its debut on January 11, 2024.

Moreover, data from Farside Investors showed that the U.S. Bitcoin ETFs saw more than $35 billion in aggregate net inflows for the year, or roughly $144 million in net inflows each trading day.

Bloomberg Intelligence reported that the U.S. BTC ETFs broke $100 billion in net assets for the first time ever. Steno Research crypto analysts also believe that Bitcoin ETFs will attract another ~$48 billion worth of net inflows in 2025.

BlackRock launches new Bitcoin ETF on Cboe Canada

BlackRock offers more than 1,400 exchange-traded funds around the world, and recently revealed an additional Canadian ETF. Cboe Canada announced on January 13 that BlackRock will launch a new Bitcoin ETF on the Canadian securities exchange. The firm said that the ETF is designed to give Canadian investors access to BlackRock’s flagship U.S. spot Bitcoin ETF. The exchange also disclosed that it will invest “all or substantially all of its assets” in IBIT.

“Cboe has a history of bringing many first-of-their kind products to market, including spot crypto ETFs in the United States, and we’re thrilled to continue our leadership in innovation by listing BlackRock Canada’s IBIT ETF on Cboe Canada.”

~ Rob Marrocco, Global Head of ETF Listings at Cboe.

The Canadian fund also said that it would trade under the same IBIT ticker, and shares denominated in U.S. dollars would be traded under the IBIT.U ticker. Nasdaq acknowledged that the ETF will join upward of a dozen other Bitcoin ETFs trading on Canadian exchanges.

Helen Hayes, BlackRock’s head of iShares Canada, said that the iShares Fund will provide Canadian investors with a way to gain exposure to Bitcoin. Hayes added that the iShares Fund will help remove the operational and custody complexities of holding Bitcoin directly.

Nasdaq also proposed a rule change to the U.S. SEC to increase position and exercise limits for IBIT options from 25,000 to 250,000 contracts. The official document highlighted that Nasdaq ISE argued that the higher limits were necessary to accommodate the ETFs’ significant market presence.

The firm also argued that the current limit was “extremely conservative” given IBIT’s liquidity. The filing highlighted that the exercisable risk would represent only 2.9% of IBIT’s outstanding shares, even with the proposed increase to 250,000 contracts.

The filing indicated that the SEC had 45 days from its publication in the Federal Register to decide on the proposal, possibly extending the review period to 90 days if needed. The SEC said it will accept public comments on the proposed rule change until January 27.

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