tl;dr
BlackRock’s iShares Bitcoin Trust (IBIT) ETF reached $70 billion in assets under management in just 341 trading days, five times faster than the previous record held by SPDR Gold Shares ETF. IBIT currently holds about 662,707 BTC, representing nearly 20% of the Bitcoin held by public and private ent...
BlackRock’s iShares Bitcoin Trust (IBIT) ETF achieved a remarkable milestone by reaching $70 billion in assets under management (AUM) within just 341 trading days. This astonishing growth rate is five times faster than the previous record set by SPDR Gold Shares ETF, which took 1,691 days to hit the same mark. This rapid ascent highlights a significant shift in institutional interest toward spot Bitcoin ETFs.
IBIT dominates the spot Bitcoin ETF market, holding over three times the assets of its nearest competitor, Fidelity's Wise Origin Bitcoin Trust. It currently manages around 662,707 BTC, accounting for nearly 20% of all Bitcoin held by public and private entities, including governments, exchanges, and DeFi platforms. Other notable funds, such as Ark 21shares and Bitwise, manage significantly smaller amounts, reinforcing IBIT’s commanding market position.
Despite this dominance, IBIT may soon face competition as six publicly traded firms, including Strategy, Twenty One Capital, and Nakamoto Corp., plan to raise up to $76 billion for Bitcoin purchases. This collective pool represents 56% of the spot Bitcoin ETF complex’s current AUM and 16% of net ETF inflows over the past 16 months, raising the possibility of further consolidation in Bitcoin supply beyond the ETF arena.
BlackRock’s meteoric rise with IBIT underscores the growing institutional appetite for direct Bitcoin exposure through regulated and secure investment vehicles. Meanwhile, the parallel surge in corporate capital aiming to acquire Bitcoin suggests a broader movement toward centralized holdings, which could reshape the landscape of Bitcoin ownership and influence market dynamics in the months and years ahead.