BlackRock’s Bitcoin ETF IBIT Reaches $40 Billion in Just 211 Days
BlackRock’s Bitcoin ETF, IBIT, has amassed $40 billion in assets within 211 days, marking the fastest growth rate among ETFs. It ranks in the top 1% of ETFs globally by assets. This rapid success reflects the strength of the crypto market and BlackRock's strategic acquisitions, including nearly 9,000 BTC purchased in one day.
As Bitcoin prices exceed $93,000, IBIT’s growth indicates robust institutional interest in digital assets. Bloomberg analyst Eric Balchunas noted that IBIT reached $40 billion far quicker than any other ETF, which took an average of 1,253 days.
The pace of BlackRock’s Bitcoin purchases has surpassed other ETF issuers. Recently, IBIT recorded $230.8 million in inflows, totaling over $1.7 billion in just a few days. This rapid influx reinforces BlackRock's dominant position in the Bitcoin ETF sector, as observed by analysts like Shaun Edmondson.
BlackRock's strategy involves acquiring large amounts of Bitcoin quickly; U.S. Bitcoin ETFs recently added 9,300 BTC, with BlackRock purchasing 8,985. Analysts have noted that ETFs are approaching the size of Satoshi Nakamoto's holdings, while Grayscale, the second-largest Bitcoin holder, has slightly decreased its BTC holdings.
With Bitcoin continuing to reach record highs, IBIT’s value is expected to rise as it attracts investor attention. This growth solidifies BlackRock’s leadership in the crypto ETF market amid the ongoing cryptocurrency boom.