Who Really Owns the Bitcoin Inside BlackRock’s ETF?
BlackRock's iShares Bitcoin Trust ETF (IBIT) holds Bitcoin in a Delaware statutory trust, with Coinbase as custodian. Shareholders have beneficial interests but no direct ownership. Bitcoin is trading at $81,497, 35% below its record high. IBIT shares closed at $46 on October 16, 2026. The ETF's structure impacts share flows but not Bitcoin's price directly.





