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BlackRock’s spot Bitcoin ETF becomes fastest to hit $70 billion, crushing gold's previous record
The firm’s bitcoin-based IBIT fund, the largest of its kind, surpassed $70 billion in assets in just 341 days of trading, making it the fastest ETF to reach that milestone, according to Bloomberg Senior ETF Analyst Eric Balchunas.
"IBIT just blew through $70 billion and is now the fastest ETF to ever hit that mark in only 341 days, which is 5x faster than the old record held by GLD of 1,691 days," Balchunas posted to X Monday.
With more than $70 billion in assets, BlackRock’s bitcoin ETF is by far the most popular among similar funds that track the cryptocurrency’s price. Fidelity’s spot Bitcoin ETF is a distant second, with about $31 billion in assets, according to The Block Data Dashboard. IBIT recently saw a 34-day streak of inflows. 0 reply
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