BlackRock IBIT Bitcoin ETF achieves $70B AUM record
BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, has reached $71.9 billion in assets under management (AUM) in just 341 days, making it the fastest ETF to achieve this milestone. This pace is approximately five times quicker than the previous record holder, SPDR Gold Shares, which took 1,691 days. IBIT is now the largest institutional holder of Bitcoin, with 661,457 BTC, surpassing Binance and Michael Saylor's holdings. Analysts predict IBIT could exceed the Bitcoin holdings of Satoshi Nakamoto, estimated at 1.1 million BTC, by next summer. IBIT has outperformed other spot Bitcoin ETFs since its launch in January 2024, with $48.7 billion in net inflows. Despite a recent outflow of $430.8 million, IBIT was awarded “Best New ETF” and “Crypto ETP of the Year.” Some Bitcoin advocates support ETF adoption for accessibility, while others express concerns about excessive institutional control over Bitcoin.
