IBIT Bitcoin ETF Hits 700,000 BTC, Metaplanet Plans Bitcoin-Fueled Expansion and Bank Buy

BlackRock’s IBIT Bitcoin ETF surpasses 700,000 BTC in assets, dominates US market with 56% share

BlackRock’s IBIT spot Bitcoin ETF crossed 700,000 BTC ($76 billion) in assets under management on Monday, just 18 months after its launch in January 2024. IBIT now ranks as BlackRock’s third highest revenue-generating ETF and is on track to become the top one, only $9 billion away. It overtook Grayscale’s GBTC last year and currently holds about 56% of all US spot Bitcoin ETF assets. Fidelity’s FBTC has also passed GBTC, which has seen its holdings drop by about 70% since converting to an ETF. Overall, US spot Bitcoin ETFs collectively hold 1.25 million BTC (~$135 billion), around 6% of Bitcoin’s total supply. IBIT further leads in net inflows with $52.9 billion since launch and dominates trading volume, representing 80% of Monday’s $2.9 billion activity.

Metaplanet eyes Bitcoin-fueled expansion, plans to buy cash-generating businesses including a potential Japanese digital bank

Tokyo-listed Metaplanet aims to transform its growing Bitcoin reserves into a powerful acquisition tool. CEO Simon Gerovich revealed the company’s strategy to accumulate as much Bitcoin as possible before using it as collateral to finance purchases of profitable businesses, possibly including a Japanese digital bank. Originally a hotel operator, Metaplanet began buying Bitcoin in 2024 as an inflation hedge and now holds 15,555 BTC, planning to grow this to over 210,000 BTC (1% of total supply) by 2027. On Monday, the firm added 2,204 BTC for $237 million, raising its average purchase price to around $99,985 per coin. Metaplanet’s stock has surged over 345% this year, mirroring Michael Saylor’s Strategy approach, as it pursues aggressive Bitcoin-driven growth.

Robinhood under EU scrutiny over OpenAI and SpaceX stock tokens, pushes forward with tokenization plans

Robinhood Markets is facing questions from European regulators after launching a promotion offering EU users blockchain-based “stock tokens” tied to OpenAI and SpaceX. Lithuania’s central bank requested detailed information on the tokens’ structure, concerned they might blur lines between equity and derivatives. OpenAI publicly criticized the promotion, emphasizing that any equity transfers require its approval, prompting Robinhood to clarify that the tokens are derivatives meant to provide exposure, not actual shares. Despite backlash, Robinhood has issued about 215 stock tokens on the Arbitrum Layer 2 network and continues testing, recently renaming a SpaceX token to “Demo 1.” The company also plans to expand into perpetual-futures trading and develop its own Layer 2 blockchain on Arbitrum.