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BlackRock’s IBIT Becomes Fastest ETF to Hit $70B AUM as Flows Turn Positive

BlackRock’s iShares Bitcoin Trust (IBIT) “just blew through $70 billion” in assets under management, observed Bloomberg ETF analyst Eric Balchunas on June 9.

It is now the fastest ETF ever to hit that mark in only trading 341 days, he said before adding that this is five times faster than the previous record held by the SPDR Gold Shares ETF (GLD), which reached that AUM figure after 1,691 days.

According to the BlackRock website, the fund’s AUM is $71.8 billion, and it held 661,457 BTC as of June 6.

Institutional Hunger For BTC

Institutional investors are leading this rally through funds such as IBIT, as retail remains largely absent. Moreover, IBIT has only seen three outflow days since early April as the fund continues до accumulate the asset aggressively.

When BlackRock filed for IBIT, the price of Bitcoin was around $30,000, “and the stench of FTX was still in the air,” remarked Balchunas on June 10.

He added that the asset is now trading at $110,000, which is a return of seven times that of the S&P 500, “and is now seen as legitimate for other big investors.”

ETF Store President Nate Geraci also commented on the milestone, reminding people that there are eleven other spot Bitcoin ETFs and the sector overall has almost $125 billion in AUM. These are “ridiculous numbers,” he said.

Monday saw a reverse of outflows with a net aggregate inflow of $386 million for the eleven funds, according to Coinglass. BlackRock had a lower-than-usual day with just $121 million in inflows, beaten by Fidelity, which saw $173 million in inflows.

The largest Bitcoin holder is estimated to be its pseudonymous creator, Satoshi Nakamoto, who holds around 1.1 million coins. However, Balchunas et al вірю. that BlackRock could surpass this total by mid-2026 if assets continue to flow in.

Bitcoin Price Outlook

The reversal of ETF flows coincided with a jump in spot markets, which saw Bitcoin reach an intraday high of $110,260 in early trading in Asia on Tuesday.

The asset had dipped to $109,500 at the time of writing but remained up 3.6% on the day. Bitcoin is now just 2% away from notching another new all-time high.

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