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- IBIT smashed past $70B AUM in just 341 days—five times faster than the gold ETF.
- Pulling $48.7B in net inflows, IBIT leads all spot Bitcoin ETFs launched in January 2024.
BlackRock’s spot Bitcoin ETF, IBIT, has now crossed $70 billion in assets under management (AUM), setting a new speed record in the exchange-traded fund sector. The milestone was achieved in just 341 trading days, which is nearly five times faster than SPDR Gold Shares (GLD), the prior record holder that took 1,691 days to reach the same mark.
IBIT just blew through $70b and is now the fastest ETF to ever hit that mark in only 341 days,” ETF analyst Eric Balchunas noted.
The ETF, listed on the Nasdaq, currently reports $71.9 billion in assets. The holding includes 661,457 Bitcoin, making BlackRock the top institutional holder of the cryptocurrency, ahead of Binance at 629,190 BTC and MicroStrategy at 582,000 BTC.
IBIT Pulls In $48.7B—Tops All Bitcoin ETFs
Since its launch in the U.S. in January 2024, IBIT has attracted $48.7 billion in net inflows, according to Farside data. It leads all other 10 spot Bitcoin ETFs that launched on the same date. The ETF’s share price currently stands at $61.77, rising 4.24% over the past day.
In May alone, it logged $5.9 billion in inflows, and June is off to a strong start with $201 million in inflows recorded so far. These figures demonstrate sustained demand for Bitcoin exposure through regulated channels, with IBIT capturing a dominant share of the action.
Robert Mitchnick, BlackRock’s head of digital assets, said in a June 9 Yahoo Finance interview that investors are increasingly viewing Bitcoin as an inflation hedge and alternative store of value. He noted that BlackRock has drawn more inflows than even the world’s largest gold ETF this year, reaching $6.96 billion since January, making it the sixth highest inflow among all ETFs.
JPMorgan Backs Bitcoin ETFs — Loans Begin with IBIT
Institutional interest in crypto ETFs continues to build. JPMorgan has confirmed plans to offer loans based on Bitcoin ETFs, beginning with IBIT. This could further boost liquidity and investor access. On June 4, Russia’s MOEX exchange introduced IBIT futures, though access is currently limited to accredited investors.
Analysts believe BlackRock could surpass the estimated Bitcoin holdings of Satoshi Nakamoto by the end of next summer. Nakamoto’s wallets are believed to hold around 1.1 million BTC, representing 5.2% of the capped 21 million Bitcoin supply.
Despite some concerns about institutional involvement in Bitcoin straying from its decentralized roots, several early supporters remain confident in the direction. In a recent update, CNF reported that BlackRock has reallocated some of its Bitcoin holdings to Ethereum, which hasn’t slowed down its performance or investor interest
