Senior Bloomberg analyst Eric Balchunas says that BlackRock’s Bitcoin (BTC) exchange-traded fund has surpassed the $80 billion landmark faster than any ETF in history.
In a new thread on the social media platform X, Balchunas says that the iShares Bitcoin Trust ETF (IBIT) is now worth $83 billion, the 21st largest ETF overall.
[adinserter block="1"]“IBIT blew through the $80 billion mark [on Friday], fastest ETF to get there in 374 days, about 5x faster than the previous record, held by VOO, which did it in 1,814 days.”
Balchunas goes on to note that Bitcoin’s rallies are heavily contributing to the total assets of all the existing BTC-based ETFs.
“Total assets for all the spot Bitcoin ETFs crossed $140 billion for first time as well.. They took in over $1 billion last night but it was really the big move up in price that is doing most of the heavy lifting here.”
He also notes that BlackRock’s Ethereum (ETH)-based ETF (ETHA) had one of its best weeks yet, busting into the top 10 in terms of inflows.
“Don’t look now, but ETHA took the 6th spot on the weekly flow leaderboard. Hanging with the big dogs for the first time. $675 million in a week is no joke, although still living in BTC’s shadow with IBIT grabbing an absurd $1.7 billion.”
BTC and IBIT are trading for $122,260 and $67.21 at time of writing, respectively, while ETH and ETHA are valued at $3,031 and $22.80.
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