$80,000,000,000: BlackRock Bitcoin ETF IBIT Goes Parabolic

BlackRock's iShares Bitcoin Trust (IBIT) has become the fastest-growing ETF ever, officially hitting $80 billion in assets under management just 374 days after launch. This milestone is a new record for the ETF industry, says Bloomberg's Eric Balchunas.

To put it in perspective: Vanguard's $VOO took almost five times longer — 1,814 days — to reach the same level. IBIT did not just beat that pace, it totally rewrote the script. As of July 10, IBIT has $80.11 billion in net assets with cumulative net inflows of $53.45 billion — four times more than the next closest competitor in the Bitcoin ETF space.

Daily flows also give us a good picture of what's going on. IBIT made $448.49 million in just one day, which put it way ahead of all the other spot Bitcoin ETFs. Fidelity's FBTC had $324.34 million in daily inflows, and $ARK 21Shares' ARKB brought in $268.70 million.

Looking at the big picture: the total assets of all the U.S.-listed spot Bitcoin ETFs have now hit $140 billion for the first time. IBIT alone makes up more than half of that figure.

The bigger list includes funds from Fidelity ($23.50 billion), Grayscale's secondary BTC trust ($5.13 billion), Bitwise ($4.62 billion) and VanEck ($1.80 billion), among others — but none of them are even close to the scale and momentum BlackRock is bringing.

IBIT has been surging, and it is all thanks to a mix of solid Bitcoin price performance and steady inflows from both institutional and retail investors. It is not just about the product; it is a sign of where the big money is now comfortable putting its Bitcoin bets.

From launch to $80 billion in just over a year — BlackRock's presence in Bitcoin seems to pay all hopes that were there before January 2024 in full. The new $118,000 all-time high reflects that.