Blackrock's Ishares Bitcoin Trust (IBIT) ETF has witnessed a remarkable increase in its Bitcoin (CRYPTO:BTC) holdings, now exceeding 252,011 BTC, reflecting the booming retail interest that has taken even CEO Larry Fink by surprise.

The surge in Bitcoin holdings, valued at approximately $18 billion, underscores the robust demand from retail investors, surpassing initial forecasts and signaling a significant shift in investment trends toward digital assets.

Larry Fink expressed his enthusiasm for Bitcoin's long-term prospects, emphasising IBIT's record-breaking growth as the fastest-growing ETF in history, highlighting the unexpected level of retail demand the fund has attracted.

With the SEC's approval of 11 spot Bitcoin ETFs, including IBIT, the investment landscape for Bitcoin has broadened, allowing more investors to partake in Bitcoin's market movements through a regulated financial product.

Blackrock's focus on Bitcoin, and to a lesser extent Ethereum, as stated by head of digital assets Robert Mitchnick, indicates a clear preference for established cryptocurrencies, aligning with the investment priorities of the firm's clients.