- BlackRock’s IBIT Bitcoin ETF hit $70B in assets in just 341 days, crushing the previous record held by gold ETF GLD.
- IBIT now dominates the spot Bitcoin ETF space, far outpacing rivals like Fidelity.
- Strong inflows and institutional demand signal Bitcoin’s growing role in traditional investment portfolios.
BlackRock’s IBIT fund has just made history — again. The spot Bitcoin ETF officially hit $70 billion in assets, and it did it in only 341 days. That’s not just quick… it’s record-breaking fast. For comparison, the previous champ, GLD (a gold ETF), needed 1,691 days to reach the same milestone. Yeah, IBIT got there five times faster.
Bloomberg’s Eric Balchunas dropped the stat on X, calling out how IBIT’s rise wasn’t just historic — it blew past expectations. This move solidifies BlackRock’s ETF as the heavyweight in the Bitcoin space, dwarfing even Fidelity’s fund, which trails with $31 billion in assets.
Bitcoin Leaves Gold in the Dust
GLD, known formally as SPDR Gold Shares, has long been a go-to for investors looking to bet on gold without holding the physical metal. It’s huge — around $100 billion in assets — and has been around since 2004. But despite that legacy, IBIT’s rapid ascent proves that crypto, especially Bitcoin, is attracting capital at lightning speed.
Economic uncertainty — in part triggered by President Trump’s ongoing tariff battles — has pushed investors toward both gold and Bitcoin this year. But let’s be real: Bitcoin’s momentum is hitting a different gear altogether.
IBIT’s Rise Reflects Big Demand
Launched in January 2024, BlackRock’s spot Bitcoin ETF caught fire fast. As of April, IBIT reportedly held 2.8% of all Bitcoin in circulation — that’s wild. Important to note, BlackRock doesn’t actually own the BTC, but they hold it on behalf of their clients, which is still a pretty big flex in the traditional finance world.
And with a 34-day streak of inflows recently under its belt, it’s clear investor appetite isn’t fading anytime soon.
