BlackRock’s Bitcoin ETF Becomes Fastest Ever To Reach $70 Billion AUM
BlackRock’s iShares Bitcoin Trust (IBIT) has reached $70 billion in total assets within 341 days of its launch, making it the fastest ETF to achieve this milestone. This surpasses the previous record held by State Street’s GLD gold ETF, which took nearly 1,700 days. IBIT is the most popular among twelve Bitcoin ETFs, with Fidelity’s FBTC and Grayscale’s GBTC trailing at around $20 billion each. The launch of IBIT and other Bitcoin ETFs followed regulatory approval from the SEC, reflecting strong investor demand. IBIT accumulated over $1 billion in assets within four days and surpassed BlackRock’s gold fund by November. In December, it became the fastest ETF to reach $50 billion in assets. The Bitcoin ETF market has seen significant growth alongside Bitcoin's price increases, with total assets across all Bitcoin ETFs exceeding $134 billion when Bitcoin hit an all-time high of $111,900. Currently, Bitcoin is trading near $108,400, just below its record price level.
