BlackRock’s IBIT Surpasses Exchanges as Largest Bitcoin Custodian
🔑 Key Takeaways BlackRock’s iShares Bitcoin Trust (IBIT) has become the largest custodian of BTC , surpassing Coinbase and Binance. Marks a decisive shift toward institutional takeover of Bitcoin custody . Signals Bitcoin’s deepening financialization on Wall Street . 🗞 Main Story BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken centralized exchanges as the largest Bitcoin custodian , holding more BTC than Coinbase and Binance combined. This milestone marks a paradigm shift: Wall Street’s biggest asset manager now safeguards more Bitcoin than crypto-native platforms, signaling Bitcoin’s entry into a new financial era. Historically, Bitcoin custody was dominated by exchanges serving retail traders. But IBIT’s rapid growth—fueled by institutional inflows and ETF demand—has reshaped the landscape. Much like gold in the 1970s, Bitcoin is being financialized: stored in ETF wrappers, regulated under the SEC, and incorporated into pension and sovereign f...