On June 6th, the asset management scale of BlackRock’s iShares Bitcoin Trust (IBIT) exceeded 70 billion US dollars. Since its launch in January 2024, this spot Bitcoin ETF has reached this milestone in just 341 trading days, becoming the fastest ETF in history to achieve an asset size of 70 billion US dollars.
The previous record was held by the SPDR Gold Trust (GLD), which reached a scale of 70 billion US dollars in 1,691 days, while IBIT’s speed was five times that. The rapid rise of IBIT highlights the strong market demand for spot Bitcoin ETFs. At present, it dominates among similar Bitcoin ETFs, and the scale of assets it manages far exceeds that of other competitors. For instance, Fidelity’s Bitcoin ETF has an asset size of approximately 31 billion US dollars and is the second largest fund of its kind after IBIT.
According to data from the blockchain data analysis platform Arkham Intelligence, as of April, IBIT held approximately 2.8% of the total supply of Bitcoin, which means that nearly 3 out of every 100 Bitcoins were held by the fund. Although BlackRock does not own Bitcoin itself, it manages these assets for its clients through custody arrangements.
The success of IBIT not only opens up new business growth points for BlackRock, but also reflects the growing interest of investors in digital assets against the backdrop of macroeconomic uncertainties. As more and more investors participate in the Bitcoin market through compliant financial instruments, spot Bitcoin ETFs, as a regulated investment channel, are gradually becoming an important choice for both institutional and individual investors.
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