BlackRock’s Bitcoin exchange-traded fund, known as IBIT, is smashing records. It now holds over 800,000 Bitcoin tokens. This positions the fund’s assets under management (AUM) close to an incredible $100 billion. The milestone is particularly striking because IBIT only launched in January 2024. It has quickly become the leading ETF for inflows on Wall Street and BlackRock’s most profitable product.
Currently, IBIT manages 802,197.8 BTC. This represents nearly 3.8% of Bitcoin’s total limited supply of 21 million tokens. To put its size into perspective, BlackRock’s IBIT now holds significantly more Bitcoin than MicroStrategy. Michael Saylor leads MicroStrategy, the company with the largest corporate Bitcoin treasury, which holds 640,031 BTC, according to the official iShares Bitcoin Trust website.
🚀 BlackRock’s Bitcoin ETF, IBIT, has surpassed 800,000 BTC under management.
This milestone brings it closer to USD $100 billion in assets in less than 2 years.
Recorded inflows of USD $426.5 million in just one day, marking the seventh consecutive day with positive flows.
IBIT’s Fast Growth Leads Market Inflows
This rapid ascent is fueled by consistent capital injections. IBIT saw an inflow of $426.5 million on a recent Wednesday. This marked the seventh day in a row the fund experienced positive net flows, according to data from SoSoValue. Since its start, IBIT has attracted a total of $64.9 billion in investor money.
Its performance makes IBIT a standout on Wall Street. Bloomberg senior analyst Eric Balchunas highlighted IBIT’s leadership. He noted it led all traditional ETFs in weekly flows, pulling in $3.5 billion. This sum accounted for a full 10% of all net flows into US ETFs at the time, based on data available until Tuesday.
BlackRock’s Most Profitable ETF Nears $100 Billion
IBIT isn’t just growing fast; it’s also a major earner for BlackRock. With a competitive fee of 0.25%, the fund generates over $240 million in annual revenue. This makes IBIT BlackRock’s most profitable ETF, a remarkable feat for a product barely a few months old. Bloomberg’s Balchunas and his colleague James Seyffart reported this earlier in the week.
The fund is on track to hit $100 billion in AUM at a pace roughly five times faster than any other ETF in history. This shows an unheard-of investor hunger for Bitcoin among traditional investors. Both institutional players and everyday investors are drawn to digital assets. This trend is happening alongside a strong Bitcoin rally, which reportedly reached a peak of $126,000 on Monday, according to market data.
IBIT’s success reflects a bigger shift. US spot Bitcoin ETFs collectively have seen steady capital inflows. On Wednesday, their combined assets under management hit $168 billion, with total inflows reaching $62.58 billion. These figures come from SoSoValue data. The booming popularity of IBIT underlines Bitcoin’s growing acceptance as a legitimate asset class in traditional finance circles. This groundbreaking growth doesn’t just reshape the ETF world; it also sets a new standard for Bitcoin’s entry into mainstream investment.