In just a short time, BlackRock has acquired 70 billion USD with Bitcoin!
BlackRock Sets Record With Fastest Bitcoin ETF To Reach $70 Billion
Less than a year after its launch , BlackRock’s spot Bitcoin ETF – iShares Bitcoin Trust (IBIT) – has become the fastest ETF in history to reach $70 billion in assets under management .
With 661,457 BTC , IBIT is now the world's largest Bitcoin holder , surpassing both Binance and Michael Saylor's MicroStrategy.
Still, the person holding the most BTC is believed to be Satoshi Nakamoto , with an estimated 1.1 million BTC – equivalent to 5.2% of Bitcoin's total supply .
Outstanding growth, far surpassing competitors launched at the same time
According to data from Farside, since its January 2024 listing on the Nasdaq , IBIT has attracted more than $48.7 billion in net inflows , far exceeding the 10 other Bitcoin spot ETFs that launched at the same time .
During the trading session on June 9 , IBIT stock price increased by 4.24% , contributing to the 5.3% increase in the past 5 days as Bitcoin recovered to surpass the $110,000 mark .
However, on May 30, IBIT also recorded the largest net withdrawal session worth 430.8 million USD , ending a streak of 31 consecutive days of capital withdrawal.
Expectations Beyond Satoshi and the Debate in the Bitcoin Community
ETF expert Eric Balchunas said IBIT reached the $70 billion mark in just 341 days – five times faster than SPDR Gold Shares (GLD) , the previous record holder.
He predicts that IBIT could surpass Satoshi's BTC holdings by next summer if the rally continues.
While some in the community worry that the involvement of large financial institutions will undermine the decentralized spirit of Bitcoin , many pioneers like Blockstream CEO Adam Back believe that ETFs make Bitcoin more accessible to the masses , as long as 90% of Bitcoin is not held by ETFs