BlackRock’s Bitcoin ETF Surges Past $40 Billion

BlackRock’s Bitcoin ETF, IBIT, has surpassed $42.56 billion in assets, setting a new growth record. IBIT reached the $40 billion mark in a fraction of the time taken by any previous ETF. In comparison, the next fastest ETF needed over 1,250 days to reach the same asset level, highlighting IBIT’s rapid rise.

The ETF’s explosive growth is fueled by BlackRock’s aggressive Bitcoin purchasing. In just 24 hours, the firm acquired nearly 9,000 BTC, underscoring its determination to cement market leadership. On Wednesday alone, IBIT recorded inflows of $230.8 million, with total weekly inflows topping $1.7 billion, reflecting strong investor interest.

Data from Bloomberg analyst Eric Balchunas shows that IBIT’s total assets now place it in the top 1% of all ETFs by assets under management (AUM). Its swift ascent has led the ETF market since the recent Bitcoin bull run began, with IBIT consistently outperforming its competitors.

ETF analyst Shaun Edmondson, who tracks Bitcoin acquisition among ETF issuers, reports that BlackRock is far ahead in the race to amass BTC holdings. Out of a recent 9,300 BTC purchased by major issuers, BlackRock accounted for 8,985, a staggering portion. Grayscale, the second-largest Bitcoin holder, actually reduced its holdings over the same period.

With Bitcoin recently breaching the $90,000 mark and climbing, BlackRock’s ETF continues to gain momentum. As Bitcoin’s value surges, IBIT remains a key player in the ETF space, with no signs of slowing down.