BlackRock’s Bitcoin ETF is getting close to $100B milestone

BlackRock’s spot Bitcoin ETF is pulling in money at a velocity by no means seen within the fund business. After one other $4 billion streak of inflows this week, IBIT now holds greater than 800,000 BTC, value roughly $98 billion, and is inside placing distance of a milestone that no ETF has ever reached this rapidly.

Bloomberg Intelligence analysts Eric Balchunas and James Seyffart estimate IBIT now generates over $240 million a yr in income from its 0.25% price, making it BlackRock’s most worthwhile product throughout its international lineup of greater than 1,000 ETFs. That’s a shocking end result for a fund launched lower than two years in the past and one which has already redefined what “mainstream adoption” appears like for Bitcoin.

IBIT’s scale is unmatched. According to Bloomberg information, the fund has taken in $37 billion in its first yr and one other $26 billion to date in 2025. With greater than $70 billion in belongings forward of its nearest competitor, BlackRock’s Bitcoin fund has successfully consolidated Wall Street’s management of the crypto ETF panorama. Farside information exhibits whole spot Bitcoin ETF holdings now exceed 1.3 million BTC, with IBIT accounting for greater than 60% of that provide.

The progress has been powered by a suggestions loop of value and inflows. Bitcoin reached a brand new ATH of $125,000 over the weekend, extending a 70% rally since Donald Trump’s election win in November. His administration’s push for broader crypto integration, together with friendlier custody and ETF frameworks, has unlocked a wave of institutional demand that mirrors the early days of the gold ETF increase 20 years in the past. Every uptick in value brings in recent cash from allocators keen to acquire publicity with out coping with wallets or non-public keys.

Balchunas and Seyffart famous that IBIT is on observe to hit $100 billion in belongings about 5 instances quicker than any ETF in historical past, a document that places it in a league of its personal. The world’s largest ETFs (SPY, QQQ, VOO) all took years to cross that threshold. IBIT may do it in below 24 months. “The undeniable fact that IBIT is now BlackRock’s most worthwhile product is extraordinarily spectacular,” Seyffart informed Bloomberg, recalling that even their “most bullish expectations” have been surpassed.

Behind the scenes, this surge displays each advertising muscle and timing. BlackRock used its retail distribution community and institutional relationships to channel demand right into a single flagship product. According to Kaiko’s Adam Morgan McCarthy, the “digital gold” narrative gained new traction earlier this yr, particularly after the US tariff announcement in April triggered a rush into perceived inflation hedges.

ETF information helps that view. Over the previous two weeks alone, IBIT added practically $4 billion in web inflows, in accordance to data from Farside Investors, bringing its Bitcoin stability above 800,000 BTC. That’s roughly 4% of the whole Bitcoin provide and greater than what MicroStrategy and the following 9 largest company holders mixed possess. At its present progress charge, IBIT may quickly maintain one out of each 20 Bitcoin ever mined: an unprecedented focus of BTC in a regulated product.

BlackRock has declined to remark publicly, however the message to rivals is clear: scale wins. Fidelity’s FBTC, the second-largest spot ETF, stays roughly $70 billion smaller. Even if the remainder of the market sees wholesome inflows, the middle of gravity is now mounted round one ticker. IBIT’s rise has turned Bitcoin into a completely financialized asset: not only a hedge or an experiment, however a cornerstone product of the world’s largest asset supervisor.

Whether that’s bullish or regarding is determined by perspective. Bitcoin’s decentralization was constructed on independence from establishments. Yet the market now finds itself cheering a fund whose success is determined by them. Either means, the $100 billion mark might be only a few buying and selling classes away.

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