Here Are The Records BlackRock Bitcoin ETF Broke This Year
Highlights
- BlackRock’s Bitcoin ETF, IBIT, reached $50 billion in assets within 11 months, making it the fastest-growing ETF in history.
- IBIT played a pivotal role in Bitcoin's 118% YTD price rally, pushing Bitcoin past $100,000 for the first time.
- The iShares Bitcoin Trust accounts for over 50% of daily trading volume among all US Bitcoin ETFs.
BlackRock’s iShares Bitcoin Trust (IBIT) marked an extraordinary debut in 2024, becoming the fastest-growing exchange-traded fund (ETF) in history. Within 11 months of its launch, the fund amassed over $50 billion in assets under management, setting a new benchmark for ETF performance. The achievement outpaced industry standards, with IBIT reaching asset milestones faster than any ETF across all asset classes.
BlackRock’s iShares Bitcoin ETF Achieves Fastest $50B Milestone in History
According to a Bloomberg report, BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), surpassed $50 billion in assets within just 11 months. This remarkable growth makes it the fastest-growing cryptocurrency ETF in history. It surpassed milestones previously set by BlackRock’s iShares Core MSCI EAFE ETF, which took nearly four years to reach the same level.
The rapid accumulation of assets underscores IBIT’s unique appeal to institutional and retail investors. At its current size, IBIT generates approximately $112 million in annual revenue, based on an expense ratio of 0.25%. This performance reflects the fund’s appeal to the increasing demand for cryptocurrency exposure in mainstream investment portfolios.
Despite this record-breaking milestone, IBIT recently recorded its largest-ever outflow of $188.7 million, doubling the previous high of $72.7 million just days earlier. This comes amid a broader trend of consecutive outflows from US-based spot Bitcoin ETFs, totaling $1.5 billion over four days.
IBIT Role in Bitcoin’s 118% Year-to-Date Rally
The iShares Bitcoin Trust contributed significantly to Bitcoin’s impressive 118% year-to-date rally. The fund’s launch coincided with Bitcoin surpassing $100,000 for the first time, driven by institutional inflows and greater market acceptance. BlackRock’s reputation as the world’s largest asset manager, with over $11 trillion under management, provided a strong endorsement for the cryptocurrency ETF market.
Additionally, BlackRock Bitcoin ETF accounts for more than 50% of the daily trading volume among all US Bitcoin ETFs. Since its launch, the fund has experienced only nine days of outflows, demonstrating consistent investor confidence.
BlackRock Bitcoin ETF was part of a broader trend in 2024, as crypto ETFs dominated inflows among the year’s 740 ETF launches. Four Bitcoin ETFs, two Ethereum ETFs, and two MicroStrategy-tracking ETFs ranked among the top eight funds in terms of inflows.
Ethereum ETFs also gained traction, with BlackRock’s ETHA leading the way, attracting $349 million in inflows. The total net asset value of Bitcoin-focused ETFs in the US stood at $106.683 billion. This overwhelming success highlights the growing mainstream acceptance of cryptocurrency ETFs as investment vehicles.
The development comes amid a recent BTC price dip of approximately 2%, raising concerns among investors about the market’s trajectory. Despite this, Matrixport’s report highlights historical trends that suggest a potential price breakout as the New Year approaches. The surge in Bitcoin Futures Open Interest and rising funding rates indicate market consolidation before a possible rebound.
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