BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, has achieved a historic milestone by accumulating $70 billion in assets under management (AUM) in just 341 days. This unprecedented growth rate makes IBIT the fastest ETF ever to reach this threshold, outpacing traditional funds like SPDR Gold Shares (GLD).
With holdings exceeding 661,000 Bitcoin, IBIT now stands as the largest institutional Bitcoin holder globally, surpassing cryptocurrency exchange Binance and MicroStrategy’s corporate treasury. ETF analyst Eric Balchunas emphasized the fund’s extraordinary trajectory, noting it reached the $70 billion mark five times faster than GLD achieved the same milestone.
The fund’s performance coincides with Bitcoin’s recent surge past $110,000, with IBIT shares gaining 5.30% over a five-day period. Since launch, IBIT has attracted $48.7 billion in net inflows, reflecting robust institutional demand.
While some Bitcoin advocates express concerns about potential centralization risks from concentrated institutional holdings, industry leaders like Blockstream CEO Adam Back acknowledge such ETFs lower barriers to entry, simplifying Bitcoin acquisition for new investors.