BlackRock Bitcoin ETF Could Hit $100B This Month, Bloomberg Analyst Predicts

Days after becoming the fastest exchange-traded fund (ETF) to reach $80 billion in assets under management (AUM), BlackRock’s IBIT is eyeing another milestone. Bloomberg analyst Eric Balchunas is projecting the BlackRock Bitcoin ETF to clinch $100 billion in July, buoyed by a spike in inflows and a flash rally for the largest cryptocurrency.

BlackRock Bitcoin ETF Eyes $100B Milestone

According to Bloomberg Senior ETF Analyst Eric Balchunas, BlackRock’s iShares Bitcoin Trust ETF (IBIT) is on course to reach $100 billion AUM by the end of the month. Previously, Balchunas had tipped IBIT to reach this milestone over the summer, but new figures have prompted the analyst to shorten the timeline.

Balchunas notes via an X post that a surge in ETF inflows is the single largest indicator of an incoming surge in valuation. On July 11, the BlackRock Bitcoin ETF pulled in nearly $1 billion in inflows, capping off an impressive week.

The Bloomberg analyst is backing a $100 billion AUM milestone in July based on an “overnight rally” for Bitcoin. As Bitcoin set a new ATH, IBIT’s AUM grew to $88B, bringing it closer to a historic milestone.

“The iShares Bitcoin Trust is on track to surpass $100 billion in assets well before its second birthday, a pace that is unprecedented in the history of ETFs or mutual funds, ” wrote Balchunas.

The ETF has broken a trail of records since its launch, scooping over 700,000 BTC, representing 3.60% of the total supply. IBIT holds the record as the fastest ETF to reach $80B and is now BlackRock’s most profitable ETF in under two years.

BTC ETFs To Triple Gold ETFs

Bloomberg analysts opine that Bitcoin ETFs are set for a meteoric rise in the coming years. Led by BlackRock’s Bitcoin ETF, Balchunas tips the cohort to triple the size of gold ETFs before the end of the decade.

“We expect the group of spot Bitcoin ETFs to grow to triple the size of gold ETFs in the next 3-5 years, thanks to a strong value proposition and issuers’ marketing muscle,” said Balchunas.

The Bitcoin ETFs are pulling in impressive inflows over consecutive weeks amid rising institutional appetite. The inflows are coming amid a rising interest in altcoin-based ETFs among investors, with Ethereum ETFs gaining $900 million in inflows, their highest levels since their launch.