Fastest ETF Ever: BlackRock’s IBIT ETF Dominates Market
The fastest-ever ETF to reach $70 billion in assets under management is BlackRock’s spot Bitcoin exchange-traded fund. The milestone was reached about five times faster than SPDR Gold Shares (GLD), the previous record holder, which took 1,691 trading days to reach $70 billion AUM, according to ETF analyst Eric Balchunas.
IBIT just blew through $70b and is now the fastest ETF to ever hit that mark in only 341 days,
Balchunas
BlackRock’s Holdings Climb Rapidly, Eyeing Satoshi’s Crown
According to its website, IBIT, which is listed on the Nasdaq stock exchange, has $71.9 billion in AUM as of the time of writing. With 661,457 Bitcoin, the company is the biggest institutional Bitcoin holder, surpassing both Michael Saylor’s Strategy (582,000) and cryptocurrency exchange Binance (629,190).
The person who created Bitcoin under a pseudonym, Satoshi Nakamoto, is still thought to be the biggest Bitcoin holder. An estimated 1.1 million Bitcoin, or 5.2% of the 21 million coins in circulation, are believed to be held in addresses connected to Nakamoto, according to analysts. But on May 20, Balchunas predicted that by the end of the following summer, BlackRock’s holdings would probably surpass Nakamoto’s.
IBIT Soars to the Top with Awards and $48.7B Inflows
According to Farside data, IBIT has posted $48.7 billion in net inflows since its January 2024 launch in the US, outperforming the other ten spot Bitcoin ETFs that started on the same date. Most recently, on May 30, the IBIT experienced its biggest daily outflow of $430.8 million, ending its 31-day inflow streak.
At the annual ETF.com ETF awards in April, the IBIT was named the “Best New ETF.” Additionally, it won the Crypto ETP of the Year award. Many of its early proponents disagree, despite some Bitcoiners’ claims that institutional adoption contradicts the cryptocurrency’s initial intent.
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