Asset management giant BlackRock's iShares currently manages over 1,400 ETF products worldwide. Even with a rich product line, no ETF can compare to the brilliant performance of the 'iShares Bitcoin Trust (IBIT)', which has attracted over $50 billion in just under a year, not only reshaping the ETF market landscape at an unprecedented speed but also redefining Bitcoin's position in the financial market, hailed by Bloomberg as 'the most successful issuance in ETF history.'
Unmatched growth speed
According to ETF experts, since BlackRock's IBIT was approved for listing in January 2024, it has attracted an astonishing inflow of funds in less than a year, with assets under management surpassing $50 billion in just 11 months, exceeding the total assets of more than 50 ETFs operating in the European market for years, with few funds able to attract capital at such a rapid pace.
Bloomberg ETF Analyst James Seyffart points out:
The growth speed of IBIT is unprecedented; it is not only a leader among Bitcoin ETFs but also the most successful launch case among all asset class ETFs.
He added that based on the current asset scale and management fee rate (0.25%), IBIT is expected to earn approximately $112 million annually.
Bitcoin moves towards the mainstream
The success of IBIT has not only created a new benchmark for the ETF market but has also become a catalyst for the surge in Bitcoin prices, helping Bitcoin to break the $100,000 mark for the first time this year.
BlackRock, with over $11 trillion in assets under management, extends its financial influence into the cryptocurrency market, driving Bitcoin into the mainstream investment portfolio, and its market effect is evident, with the total scale of 12 Bitcoin spot ETFs in the U.S. now reaching $107 billion.
Will IBIT challenge the dominance of gold ETFs?
IBIT not only leads in asset scale but also became the first Bitcoin ETF to launch options trading. Since the launch of options trading in November 2024, IBIT's average daily trading volume has reached $1.7 billion, far exceeding other similar products.
Currently, IBIT has become the largest Bitcoin spot ETF in terms of assets, reaching $50 billion in just 11 months, which is five times faster than the second-ranked product, BlackRock's own 'iShares Core MSCI EAFE ETF'. Even more astonishing, the asset scale of IBIT has surpassed BlackRock's gold ETF (the second largest in the world).
The ETF Store President Nate Geraci believes that unless Bitcoin's price crashes, IBIT is likely to surpass the current largest gold ETF in the world - 'SPDR Gold Shares' - by 2025, becoming the absolute leader in the investment product market. This not only implies that the recognition of Bitcoin as an asset will further increase, but also symbolizes that the cryptocurrency market is officially moving towards the mainstream financial stage.
"Attracting over $50 billion in less than a year! BlackRock's IBIT has been hailed as 'the most successful issuance in ETF history'" This article was first published in (BlockCast).
