BlackRock’s iShares Bitcoin Trust ETF (IBIT) has set a new record as the fastest-growing ETF in history, surpassing $30 billion in assets under management in just 293 days, according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. This growth rate outpaces the JPMorgan Equity Premium Income ETF (JEPI) and major Gold ETFs, which took 1,272 days and 1,790 days, respectively, to reach the same milestone.
Data from Bloomberg reveals that IBIT’s market valuation exceeded $30 billion on October 29, following significant inflows and Bitcoin’s price appreciation. The fund currently holds over 417,000 Bitcoin, accounting for approximately 2% of the total Bitcoin supply.
The success of BlackRock’s ETF coincides with a surge in institutional demand for Bitcoin. On October 29, ETFs collectively reported a daily net inflow of $870 million, with BlackRock’s IBIT leading the flow. Other prominent funds, such as Fidelity’s FBTC, Bitwise’s BITB, VanEck’s HODL, and Ark and 21Shares’ ARKB, also experienced strong interest.
According to research firm CryptoQuant, over the past year, about 278,000 BTC from retail investors flowed into US spot ETFs, while approximately 670,000 BTC moved into “whale” wallets holding over 1,000 BTC, excluding those on exchanges and mining pools. This trend suggests that institutional demand in custodial wallets is roughly double that of retail investors, highlighting the growing role of institutional investors in the Bitcoin market, with major funds like BlackRock’s IBIT setting the pace.
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