The iShares Bitcoin Trust (IBIT), BlackRock’s Bitcoin ETF, has rapidly scaled to $40 billion in assets under management (AUM) as of mid-November, according to ETF senior analyst Eric Balchunas. This is a major feat considering the fact that the IBIT ETF is now a part of the top 1% ETFs launched in the U.S.
BlackRock’s Bitcoin ETF Grabs Spotlight
The IBIT trust achieved this level at unprecedented speed, marking a significant milestone for the crypto ETF arena. Balchunas highlighted IBIT’s performance on X, stating that it reached this benchmark “in a record 211 days, annihilating the previous record of 1,253 days held by IEMG.” This accomplishment places BlackRock’s Bitcoin ETF within the top 1% of ETFs by assets, and at just 10 months old, it is larger than all 2,800 ETFs introduced over the last decade.
JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a record 211 days, annihilating prev record of 1,253 days held by $IEMG. It’s now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years. pic.twitter.com/WTATlpShUq
— Eric Balchunas (@EricBalchunas) November 13, 2024
The broader market for Bitcoin ETFs also saw notable inflows, reinforcing the positive trend in the crypto ETF sector. As of Tuesday, November 12, Bitcoin spot ETFs in the U.S. attracted a cumulative net inflow of $27.72 billion, with $817.54 million added recently.
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Spot Ethereum ETFs, while smaller in scope, also saw gains with a total inflow of $135.92 million to date. This inflow has driven the total cumulative net inflow for ETH-focused funds to $94.62 million.
BTC ETF Flows Stand Strong
Despite a slight slowdown compared to prior records, Bitcoin ETF inflows remain substantial. On November 11 alone, inflows surged to an impressive $1.114 billion, underscoring the robust demand for these investment products. IBIT led the day’s trading with $778.27 million in net inflows, bringing its cumulative inflows to approximately $28.92 billion.
Fidelity’s FBTC recorded the second-largest inflow of $37.20 million, further indicating growing institutional interest in crypto-based ETFs. However, not all ETFs saw gains; Grayscale’s GBTC and the ARK & 21Shares ARKB each experienced daily outflows, with $17.79 million and $5.36 million withdrawn, respectively. However, VanEck’s Bitcoin ETF contributed positively, adding $10.13 million in fresh inflows, highlighting varied investor sentiment within the space.
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Also Read: US Bitcoin ETF Slows with $817.54M Inflow; ETH ETF Also Sees Decline
