BlackRock’s spot Bitcoin exchange-traded fund (ETF) has exceeded $30 billion in holdings, underscoring the growing demand for Bitcoin among institutional investors.
The world’s largest asset manager reached this milestone less than 10 months after launching its Bitcoin ETF, which began trading on Jan. 10. Currently, BlackRock holds over 417,000 Bitcoin, valued at around $30.4 billion based on today’s market price.
Bitcoin ETF inflows have accelerated as the U.S. presidential election on Nov. 5 approaches. On Oct. 29, Bitcoin ETFs saw cumulative net inflows of $870 million, marking the second-highest daily inflow since March 12, when ETFs recorded over $1 billion in BTC inflows, according to data from Farside Investors.
Analyst Eric Balchunas from Bloomberg noted that BlackRock’s $30 billion achievement marks an “all-time record” for ETFs. He highlighted in an Oct. 30 post on X:
“It hit this milestone in just 293 days, an all-time record. The old record was $JEPI, which did it in 1,272 days. $GLD took 1,790 days. Unreal.”
The consistent growth in ETF inflows may support Bitcoin’s price trajectory toward an all-time high. By Feb. 15, just a month after launch, U.S.-based spot Bitcoin ETFs accounted for about 75% of new Bitcoin investment, pushing its price past $50,000.
Bitcoin ETFs are on the cusp of a significant benchmark, potentially exceeding 1 million BTC in cumulative holdings within the next 24 hours — equivalent to over $71.7 billion. Balchunas observed that ETFs currently hold around 996,000 BTC, suggesting there’s “a good chance to pass 1 million today.”
