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Key Insights:
- BlackRock’s IBIT reached $70 billion AUM in just 341 days.
- IBIT’s rapid expansion signals strong institutional demand for Bitcoin, with major financial players increasingly using ETFs to gain exposure.
- With 661,457 BTC under custody, IBIT is nearing the estimated 1.1 million BTC held by Satoshi Nakamoto.
BlackRock’s spot Bitcoin ETF broke records by hitting $70 billion AUM in 341 days, outpacing gold ETFs. With 661,457 BTC under custody, IBIT is closing in on Satoshi Nakamoto’s estimated holdings.
BlackRock’s IBIT Tops $70 Billion in Record 341 Days
BlackRock’s iShares Bitcoin Trust (IBIT) has become the fastest ETF in history to reach $70 billion in assets under management, crossing the mark in just 341 trading days. ETF analyst Eric Balchunas confirmed the milestone on June 9, calling the feat five times faster than the previous record held by SPDR Gold Shares (GLD).
“This is absolutely wild,” Balchunas wrote on X, comparing IBIT’s trajectory to that of traditional safe-haven assets. “GLD took 1,691 days to hit the same mark.”
According to IBIT’s website, the fund held $71.9 billion at the time of publication, backed by 661,457 Bitcoin. That holding places BlackRock ahead of both Binance, which holds 629,190 BTC, and Michael Saylor’s MicroStrategy, which controls about 582,000 BTC.
IBIT Closes in on Satoshi as Institutional Demand Surges
The rapid growth in IBIT’s assets has drawn attention not just for its speed, but also for its scale. At current levels, BlackRock is inching closer to the Bitcoin holdings attributed to Satoshi Nakamoto. According to estimates cited by analysts, Nakamoto holds approximately 1.1 million BTC—around 5.2% of Bitcoin’s capped 21 million supply.
Balchunas projected that BlackRock could match or even surpass Nakamoto’s holdings by summer 2025 if its growth trend continues. That timeline would depend on continued demand from institutional investors and wealth advisors, a segment BlackRock’s executives say is still in the early stages of adoption.
“We’re still very early,” BlackRock’s head of digital assets recently said, as reported by @ByCoinvo. The comment highlights the ongoing onboarding of wealth managers and traditional financial advisors into the Bitcoin market via ETFs.
IBIT Outpaces Rivals as Bitcoin Reclaims $110K
IBIT’s lead over other spot Bitcoin ETFs launched in Jan. 2024 has widened. According to Farside data, IBIT posted $48.7 billion in net inflows, outpacing its competitors by a considerable margin. It briefly ended a 31-day inflow streak on May 30 with a $430.8 million daily outflow—the largest since launch.
Despite the dip, IBIT shares gained 4.24% on June 9, trading at $61.77. Over the past five days, the shares rose by 5.3%, tracking Bitcoin’s return to $110,000, per Google Finance. Market momentum and institutional inflows appear to be reinforcing each other, creating a feedback loop of investor confidence and capital rotation.
Balchunas emphasized the ETF’s scale relative to historical launches, adding that the size and pace of inflows represent a broader shift in how investors are accessing Bitcoin exposure. “It’s not just hype—it’s structural,” he wrote.
Record Growth Sets New ETF Benchmark
BlackRock’s IBIT has not only surpassed expectations but also set a new benchmark for ETF success. The speed at which it hit $70 billion AUM has raised eyebrows across the financial sector, prompting comparisons with legacy ETFs that took years to reach similar levels.
According to Bitcoin Magazine, the ETF’s growth reflects a deeper institutional shift into digital assets, with no signs of slowing. While critics continue to warn against too much ETF dominance, the pace of capital inflows into IBIT suggests that for many investors, ease of access now outweighs ideological concerns.
As BlackRock closes in on Satoshi Nakamoto’s shadow, the next few months will test just how far traditional finance is willing to go in its embrace of Bitcoin.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
