BlackRock’s iShares Bitcoin Trust has surpassed US$90 billion in assets under management, consolidating its position as the largest spot bitcoin exchange-traded fund. BlackRock added roughly US$524 million of bitcoin on 14 August to meet fresh share creations after a week of robust subscriptions. Investor appetite for the product shows no sign of easing. Data compiled on 15 August put net inflows into U.S. spot bitcoin ETFs at about US$231 million, with BlackRock’s vehicle accounting for the bulk of the new money. Several large institutions have lifted their exposure. Hong Kong-based Avenir Group reported owning 16.5 million IBIT shares valued at roughly US$1.01 billion at the end of the second quarter, up from 14.7 million in March. Abu Dhabi’s sovereign wealth fund disclosed a US$534 million stake, while hedge-fund firm Brevan Howard recently bought about US$1 billion of a bitcoin ETF.