BlackRock operates its own blockchain nodes to verify IBIT's Bitcoin holdings, ensuring the safety of client assets

ChainCatcher news, Bloomberg senior ETF analyst Eric Balchunas disclosed on the X platform that BlackRock operates its own blockchain nodes, extracting Bitcoin balances from Coinbase Prime's wallet address every night to verify the Bitcoin held by IBIT. If institutional clients request, they will show this data, but they will not make it public to the world, as they have already received a lot of spam (such as sanctioned Bitcoin and NFTs), and making this information public would only lead to a surge in spam.

Balchunas stated, "What needs to be understood is that this is by no means an amateur operation. BlackRock manages about 500 ETFs, and the assets of these ETFs are held by custodians, which have not had any issues for decades. This is also why they and other ETF issuers are so trusted by U.S. advisors."