Source: CryptoSlate
Compiled by: Blockchain Knight
BlackRock's iShares Bitcoin Trust ETF (IBIT) has become the fastest-growing ETF in history, managing assets over $30 billion.
Bloomberg senior ETF analyst Eric Balchunas stated, 'IBIT reached the $30 billion milestone in just 293 days, setting a new record.'
'This pace exceeds the growth rates of JPMorgan's JEPI and major gold ETFs, which reached the $30 billion threshold in 1,272 and 1,790 days, respectively.'
At the same time, IBIT is expected to surpass gold ETFs in January.
Bloomberg data shows that as of October 29, with substantial funds flowing in and BTC prices rising, IBIT's market valuation surpassed $30 billion.
The fund currently holds over 417,000 BTC, accounting for about 2% of the total BTC supply.
BTC community member Sani pointed out that if BlackRock's IBIT fund continues its current growth momentum, it could accumulate up to 500,000 BTC by the end of 2024.
If this goal is achieved, IBIT will become the third-largest holder of BTC in the world, behind Coinbase and Binance.
The success of BlackRock's ETF aligns with the surge in institutional demand for BTC.
As of October 29, the ETF has reported a cumulative daily net inflow of $870 million, with BlackRock's IBIT leading the way.
Other leading funds have also received strong attention, with Fidelity's FBTC attracting $133.86 million in net inflow, while Bitwise's BITB attracted $52.49 million.
At the same time, VanEck's HODL, Ark, and 21Shares' ARKB recorded inflows of $16.52 million and $12.39 million, respectively.
The remaining spot BTC ETFs did not see any inflows that day.
ETF Store president Nate Geraci emphasized that this inflow level marks the third-highest average daily inflow for spot BTC ETFs since their launch in January.
According to research firm Crypto Quant, these impressive numbers reflect a broad trend of institutional interest in BTC.
The company's founder and CEO Ki YoungJu pointed out that approximately 278,000 BTC (mainly from retail investors) have flowed into U.S. spot ETFs over the past year.
During the same period, approximately 670,000 BTC flowed into 'whale' wallets holding over 1,000 BTC, excluding wallets in exchanges and mining.
Ju explained, 'This trend indicates that the demand for custodial wallets from institutions is about twice that of retail.'
This surge highlights the expanding role of institutional investors in the BTC market, with large funds like BlackRock's IBIT leading the way.
