$5.20 billion in Bitcoin (BTC) is now managed by BlackRock.

On February 13, BlackRock's Bitcoin ETF reached over 100,000 BTC under management. In fact, this milestone made it the first U.S.-based Bitcoin ETF with revenues of more than $1 billion, reaching $493.1 million that day alone.

This success demonstrates Bitcoin's growing status as a legitimate asset class in the eyes of institutional investors.

The BlackRock Bitcoin ETF made new records

K33 Research has revealed that BlackRock's Bitcoin ETF – iShares Bitcoin Trust (IBIT) – has more than 100,000 bitcoins under management.

IBIT became the first US-based Bitcoin ETF to surpass $1 billion in revenue with an impressive $493.1 million flood on February 13 alone. This investment growth puts IBIT in the lead, eclipsing competitors such as Fidelity's FBTC, which has a total inflow of $881 million.

Read more: Who will have the most Bitcoins in 2024?

Data from Farside Investors shines a light on the growing popularity of Bitcoin ETFs, showing a staggering net inflow of $631.3 million on February 13. This daily flow represents a historic high, reflecting the growing confidence and interest in Bitcoin as a profitable investment avenue.

Bitcoin price rose above the $51,500 threshold today, a significant milestone in its 2024 performance, which reached 21.50% year-to-date.

“Hundreds of millions of dollars a day are flowing into these Bitcoin ETFs. And between $40 million and $45 million worth of net new bitcoins are being mined. So there is 12.5 times more demand than supply every day. If there is that much demand and less supply, the price will rise to accommodate the demand. So my guess is that Bitcoin will continue to grind in the next two weeks,” said renowned investor Anthony Pompliano.

Read more: What is a Bitcoin ETF?

Prominent Bitcoin fan Michael Saylor is optimistic about its long-term value. He links the increase in capital inflows to Bitcoin's increasing appeal as an investment. Sailer points to Bitcoin's unique characteristics and freedom from the usual risk properties. He also mentioned that ETFs offer access to Bitcoin to mainstream investors, leading to demand exceeding supply.