BlackRock’s Bitcoin ETF Reaches $70 Billion in Assets in 341 Days
BlackRock’s iShares Bitcoin Trust (IBIT) has reached $70 billion in total assets within 341 days of its launch, the fastest growth for an ETF in history. This achievement surpasses the previous record held by State Street’s gold ETF, which took nearly 1,700 days.
Key Points
- IBIT is the largest among twelve Bitcoin ETFs, followed by Fidelity’s FBTC and Grayscale’s GBTC with around $20 billion each.
- The launch of IBIT and other Bitcoin ETFs was prompted by regulatory approval from the SEC, indicating strong investor demand.
- IBIT gained over $1 billion in assets just four days post-launch.
- By November, IBIT surpassed BlackRock’s gold fund, becoming the largest in BlackRock's portfolio.
- In December, it became the fastest ETF to reach $50 billion, five times quicker than BlackRock's iShares Core MSCI EAFE ETF.
- The cumulative net assets of all Bitcoin ETFs exceeded $134 billion when Bitcoin hit an all-time high of $111,900 in late May.
- Bitcoin has shown resilience, recently trading above $108,400, with gains of 2% and 4% over 24 hours and weekly periods, respectively.
