BlackRock Bitcoin ETF, IBIT, has just reached a historic milestone: 698,920 BTC under management—solidifying its lead as the largest spot Bitcoin ETF by a wide margin. With the total net assets in U.S. Bitcoin ETFs now exceeding $135 billion, the question on everyone’s mind is: can this institutional momentum push Bitcoin to $120,000?
As ETF inflows turn green again and price action stabilizes above $108,000, analysts are closely watching BlackRock’s accumulation as a potential trigger for the next parabolic move.
IBIT Dominance Surges as Bitcoin ETFs Hit $135B in Assets
According to Coinglass, daily net inflows into U.S. spot Bitcoin ETFs have rebounded strongly, hitting $216.64 million in the latest update. IBIT alone accounts for over 51% of total BTC holdings among ETFs, leaving competitors like FBTC (200.09K BTC) and GBTC (184.23K BTC) far behind.
Source: Coinglass
The rise of BlackRock’s product is particularly significant due to its passive investment strategy. IBIT continues to hoover up BTC on a near-daily basis, with little to no sell pressure, even during short-term price corrections.
BTC Price Consolidates Above $108K – A Calm Before the Breakout?
While BlackRock absorbs more Bitcoin, BTC price has remained in a tight consolidation range between $106K and $110K, as shown in the TradingView daily chart.
Source: Tradingview
Analysts point out that such consolidations after institutional accumulation phases often precede explosive moves. With ETF demand climbing again and macro pressure easing, the $110K–$115K zone may soon break, triggering the next leg toward $120,000.
Macro Tailwinds: U.S. Treasury Demand and ETF Appetite
Institutional appetite isn’t the only factor at play. Recent market reports indicate a drop in U.S. Treasury yields, making Bitcoin relatively more attractive as a store of value. Combine that with ongoing dollar weakness and continued ETF inflows, and we could be looking at a perfect storm for another BTC rally.
Source: SoSoValue
If inflows persist at this pace, BlackRock’s IBIT could cross 700,000 BTC within days, and that psychological milestone may become a catalyst for fresh bullish momentum.
Final Thoughts: Will IBIT Fuel BTC’s Move to $120K?
With IBIT nearing 700K BTC and total ETF assets hitting all-time highs, the supply crunch narrative is back in full force. If Bitcoin can break above $110K with strong volume, the road to $120,000 could unfold faster than expected—especially if BlackRock and other funds continue to vacuum up coins from the open market.
