BlackRock’s spot Bitcoin exchange-traded fund (ETF), known as IBIT, has become the fastest ETF in financial history to exceed $70 billion in assets under management (AUM), doing so in just 341 days a feat that eclipses the previous record by a dramatic margin.
Eric Balchunas, an ETF analyst, posted on social media platform X on June 9 and called IBIT’s journey ‘unprecedented.’ SPDR Gold Shares (GLD), the last benchmark, took a much longer period of about 1,691 trading days to achieve the goal.
$IBIT just blew through $70b and is now the fastest ETF to ever hit that mark in only 341 days, which is 5x faster than the old record held by GLD of 1,691 days. Nice chart from @JackiWang17 pic.twitter.com/5VeGT9twpQ
— Eric Balchunas (@EricBalchunas) June 9, 2025
BlackRock’s Bitcoin Holdings Reach New Heights
IBIT currently manages assets worth $71.9 billion as shown by the information listed on its site. The fund has acquired 661,457 Bitcoin, which makes BlackRock the institution with the biggest Bitcoin holdings. It now exceeds Binance (629,190 BTC) and MicroStrategy, which is managed by Bitcoin advocate Michael Saylor (582,000 BTC).
Yet, Satoshi Nakamoto the creator of Bitcoin, whom no one knows for sure, maintains the number one position with approximately 5.2% of the total number of Bitcoins around 1.1 million coins. Even then, Balchunas believes that BlackRock could pass Nakamoto by next summer’s end.
IBIT Gains Momentum as Bitcoin Surges
IBIT, a company on the Nasdaq, has seen its price and popularity increase steadily. According to Google Finance, IBIT shares are at $61.77, up 5.3% in the past five days, due to Bitcoin rising to over $110,000.
Since IBIT debuted in January 2024, it has grown much faster than the other 10 Bitcoin ETFs that began at the same time in the U.S. Research by Farside reveals that funds have entered $48.7 billion since the start of the year. However, the fund’s streak of 31 days of inflows was stopped with an outflow of $430.8 million on May 30.
Institutional Growth Raises Bitcoin Decentralization Fears
The ETF’s performance has not gone unnoticed. In April, IBIT was given the BestNew ETF award at the etf.com event, while being designated Crypto ETP of the Year both accolades showing how fast crypto-backed investment products are being embraced by institutions.
There are also some who are not cheerful about this. People who have supported Bitcoin for a long time fear that as more institutions gain power, the decentralization of the coin could be affected.
Adam Back Warns Against ETF Concentration
Blockstream CEO and early Bitcoiner Adam Back told Cointelegraph Magazine, you have to have some empathy for the people who want to buy Bitcoin, but they don’t know how to do it, and it’s too complicated. Nevertheless, he cautioned against excessive concentration of Bitcoin in ETFs. You also don’t really want 90% of it in ETFs or something because that might start to become a problem.
As IBIT regularly achieves new achievements and changes the way finance works, the debate between reaching more users and total independence shows how complex and changing Bitcoin has become for investors.
Conclusion
BlackRock’s IBIT ETF has made history by reaching $70 billion AUM faster than any ETF before it, reflecting surging institutional interest in Bitcoin. Even though there are questions about Bitcoin’s future, IBIT’s rise signals that the main financial sectors are widely embracing crypto assets.
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FAQs
1. What is IBIT?
IBIT is BlackRock’s Bitcoin ETF, the fastest ever to hit $70B in assets.
2. How much Bitcoin does IBIT own?
IBIT holds 661,457 BTC more than Binance or MicroStrategy.
3. Why are some people concerned about IBIT?
Critics fear ETFs like IBIT could harm Bitcoin’s decentralization.
4. Has IBIT won any awards?
Yes, IBIT won Best New ETF and Crypto ETP of the Year.
Glossary Of Key Terms
AUM (Assets Under Management): Total value of assets a fund manages.
Bitcoin (BTC): A decentralized digital currency.
BlackRock: World’s largest asset manager; runs IBIT.
ETF: A fund traded like a stock; holds various assets.
Spot Bitcoin ETF: ETF that directly holds Bitcoin.
IBIT: BlackRock’s spot Bitcoin ETF, listed on Nasdaq.
GLD: Gold ETF that previously held growth record.
Nasdaq: U.S. stock exchange where IBIT is listed.
Crypto ETP: A product tracking crypto asset prices.
Decentralization: No single control over Bitcoin.
References
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