BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed $70 billion in assets under management (AUM) in just 341 days, making it the fastest ETF to ever achieve this milestone.
This growth milestone of IBIT surpasses the previous record set by SPDR Gold Shares (GLD) that took 1,691 days to reach $70 billion AUM.
The surge in IBIT’s AUM aligns with Bitcoin’s price rally, with Bitcoin trading above $108,000 at the time of reporting.
BlackRock's strategic accumulation of over 663,000 bitcoins positions it as a leader in institutional Bitcoin investments, reflecting the broader institutional acceptance of Bitcoin as a legitimate asset class.