In just 16 months since its launch, BlackRock's iShares Bitcoin Trust (IBIT) has rapidly ascended to become one of the largest ETFs globally, managing nearly $70 billion in assets.

IBIT is recognized as the youngest ETF among the top 25 largest ETFs, showcasing its impressive growth compared to more established funds.

The success of IBIT can be attributed to its liquidity, trust, and ease of access, marking a significant shift in Bitcoin investment strategies.

Currently, BlackRock IBIT holds approximately 660,842 Bitcoin, positioning it as the second-largest holder behind Satoshi Nakamoto, who is estimated to possess 1,123,500 Bitcoin.

By the end of 2026, IBIT is projected to surpass Nakamoto as the world's largest Bitcoin holder.

BlackRock's aggressive accumulation strategy may set a new precedent for institutional investment in cryptocurrencies.

Recent on-chain data indicates that BlackRock transferred 5,362 Bitcoin worth over $560 million to its Coinbase Prime account in just two days, reflecting its active trading strategies.

In addition to Bitcoin, BlackRock recently withdrew 27,241 Ethereum valued at approximately $69 million from Coinbase.

Despite recent withdrawals totaling over $550 million from BlackRock IBIT and other Bitcoin ETFs, there are no signs that the firm is reducing its overall Bitcoin exposure.