BlackRock’s iShares Bitcoin Trust Hits $83 Billion in 374 Days

BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a significant milestone, surpassing $80 billion in assets under management on July 10. This accomplishment marks the fastest exchange-traded fund (ETF) to reach this threshold, doing so in just 374 trading days. This rapid growth outpaces other major ETFs, including the Vanguard S&P 500 ETF (VOO), which took 1,814 days to accumulate the same asset base, and international-equity funds IEFA and IEMG, which took 2,034 and 2,089 days, respectively.

As of late July 11, IBIT’s assets have grown to $83 billion, positioning it as the 21st-largest ETF in the United States. This trajectory highlights IBIT’s exceptional performance, surpassing its peers well before its first anniversary. The fund’s success is further underscored by the substantial inflows it has attracted. On July 10, US spot Bitcoin ETFs drew in $1.18 billion, the third-largest daily inflow recorded for these products. IBIT led this surge with $448.5 million in inflows, followed by Fidelity’s FBTC at $324.3 million and Ark 21Shares’ ARKB at $268.7 million.

Cumulative net inflows across the 12 US spot Bitcoin ETFs reached $51.3 billion through July 11, with IBIT accounting for $53.45 billion of that total. Other notable contributors include FBTC with $12.62 billion, Ark 21Shares’ ARKB with $3.02 billion, and Bitwise’s BITB with $2.29 billion. Despite GBTC’s $23.38 billion in redemptions, the industry’s net inflows remain firmly positive. The 12 US spot Bitcoin ETFs now hold 1.26 million BTC, valued at approximately $149 billion, equivalent to 6% of the eventual 21 million supply. IBIT alone controls 706,008 BTC, roughly 56% of the cohort, valued at $83 billion. Fidelity’s FBTC sits a distant second at $24.4 billion, while Grayscale’s GBTC retains $21.7 billion after months of redemptions.

This rapid ascent of IBIT underscores the growing interest and investment in Bitcoin ETFs. The fund’s ability to attract significant inflows and surpass major milestones in a short period highlights its appeal to investors seeking exposure to Bitcoin through a regulated and transparent investment vehicle. The performance of IBIT also reflects the broader trend of increasing institutional adoption of cryptocurrencies, as more investors recognize the potential of digital assets in their portfolios. As the cryptocurrency market continues to evolve, funds like IBIT are likely to play a crucial role in shaping the future of digital asset investment.