Asset management titan BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) is now reportedly managing over $50 billion in assets just 11 months after its launch.
According to Bloomberg, no other ETF had a better debut than BlackRock’s iShares Bitcoin Trust (IBIT).
Citing Todd Sohn, managing director of ETF and technical strategy at institutional brokerage firm Strategas Securities, the report says the size of IBIT is now equivalent to the combined assets under management of more than 50 European market-focused ETFs, most of which already exist for more than two decades.
Advisory firm The ETF Store president Nate Geraci says it is “the greatest launch in ETF history.”
Bloomberg Intelligence analyst Eric Balchunas says IBIT reached over $50 billion in assets under management five times faster than the second-fastest ETF, BlackRock’s iShares Core MSCI EAFE ETF, which took nearly four years to reach this level.
IBIT also holds more assets than BlackRock’s iShares Gold ETF, the second-largest gold fund in the world as the Bitcoin ETF sees last year’s third-largest net inflow of $37 billion. Geraci says that as long as the price of Bitcoin does not collapse, IBIT can potentially surpass SPDR Gold Shares— the largest gold ETF, in 2025.
Bloomberg Intelligence analyst James Seyffart says IBIT can expect to earn about $112 million per year based on the ETF’s current asset level and an expense ratio of 0.25%.
“IBIT’s growth is unprecedented. It’s the fastest ETF to reach most milestones, faster than any other ETF in any asset class.”
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