BlackRock’s Bitcoin ETF Hits $80 Billion Milestone, Sets Record
Senior Bloomberg analyst Eric Balchunas recently reported that BlackRock’s Bitcoin exchange-traded fund (ETF) has reached a significant milestone, surpassing $80 billion in value at a rapid pace, faster than any other ETF in history.
According to Balchunas, the iShares Bitcoin Trust ETF (IBIT) now stands at $83 billion, making it the 21st largest ETF overall. He highlighted the remarkable speed at which IBIT achieved this feat, taking just 374 days to reach the $80 billion mark, a record-breaking accomplishment compared to previous ETFs.
Balchunas pointed out that the surge in Bitcoin’s price has significantly contributed to the total assets of all existing BTC-based ETFs, with the combined assets of spot Bitcoin ETFs exceeding $140 billion for the first time.
Additionally, Balchunas highlighted the performance of BlackRock’s Ethereum-based ETF (ETHA), noting that it had a successful week and entered the top 10 in terms of inflows.
He mentioned, “ETHA claimed the 6th spot on the weekly flow leaderboard with $675 million in a week, a significant achievement although still overshadowed by IBIT’s $1.7 billion inflow.”
As of the latest data, BTC and IBIT are trading at $122,260 and $67.21 respectively, while ETH and ETHA are valued at $3,031 and $22.80.
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