BlackRock’s IBIT rockets to $70B in 341 days, 5x faster than previous record

BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) crossed $70 billion in assets under management (AUM) on June 6, being the fastest to reach this mark in just 341 trading days. 

Bloomberg ETF analyst Eric Balchunas reported the milestone on X, noting that the fund beat the previous speed record of 1,691 days set by the SPDR Gold Shares ETF (GLD) by five times.

In addition to speed, IBIT’s dominance also shines among other spot Bitcoin (BTC) ETFs.

According to Bitcoin Treasuries data, the BlackRock fund commands more than triple the next-largest vehicle, Fidelity’s Wise Origin Bitcoin Trust (FBTC), with $21.3 billion under management.

Furthermore, it dwarfs Ark 21shares’ ARKB and Bitwise’s BITB, with their $4.6 billion and $3.9 billion under management, respectively. Grayscale’s legacy GBTC fund remains sizeable at $19.3 billion, but it is still more than three times smaller than IBIT.

IBIT holds about 662,707 BTC, nearly 20% of the 3,404,140 BTC which is custodied on behalf of public companies, private companies, governments, exchanges, and DeFi smart contracts.