According to Bloomberg ETF analyst Eric Balchunas, the iShares Bitcoin Trust (IBIT) hit the $70 billion milestone in just 341 days, smashing the previous record held by the SPDR Gold Shares ETF, which took a whopping 1,691 days. IBIT now manages $71.9 billion in assets and holds a massive 661,457 Bitcoin, making BlackRock the world’s largest institutional Bitcoin holder, surpassing Binance and Strategy.
$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
Currently, IBIT is trading at $61.77 per share, with $201 million in June inflows alone, following a record $5.9 billion in May. Launched on January 11, 2024, just after U.S. regulators approved spot Bitcoin ETFs, IBIT saw over $1 billion in volume on its first day of trading, signaling massive institutional and retail interest.
IBIT’s Success and Growing Institutional Interest
In a June 9 Yahoo Finance interview, Robert Mitchnick, BlackRock’s head of digital assets, credited IBIT’s success to Bitcoin’s growing reputation as an inflation hedge and a store of value. IBIT’s success this year has even outpaced the largest gold fund in terms of inflows, with $6.96 billion net since January, ranking sixth among all ETFs.
With this rapid growth, some analysts believe BlackRock might soon overtake Bitcoin’s mysterious creator, Satoshi Nakamoto, who is estimated to hold about 1.1 million BTC. Balchunas predicts this could happen by next summer.
Meanwhile, on June 4, Russia’s MOEX exchange launched futures for IBIT, though only accredited investors can participate. IBIT’s success comes amid the growing interest in crypto ETFs and institutional Bitcoin exposure, positioning it as a dominant player in the digital asset world.
Kristian Koch
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