BlackRock Bitcoin ETF Breaks Record as IBIT Stock Hits $63 ATH

BlackRock’s iShares Bitcoin Trust (IBIT) has just reached a major milestone, both in price and popularity. With Bitcoin prices surging and institutional demand booming, IBIT is now one of the fastest-growing ETFs in U.S. history. But how did it beat gold and S&P 500 ETFs to this record, and what does it mean for Bitcoin’s future on Wall Street?

Let’s break down!

$336 Million in a Single Day

On June 10, BlackRock added 3,005 more Bitcoins to its ETF portfolio, worth about $336 million, bringing its total holdings to a staggering 662,571 BTC. This pushed its total assets under management (AUM) to $72.7 billion. 

The numbers are impressive, but what really stands out is the speed of this growth. IBIT reached the $70 billion mark in just 341 trading days, faster than any other ETF in history. 

According to ETF expert Eric Balchunas, no other ETF in U.S. history has grown this fast. To put this in perspective, the popular SPDR Gold Shares (GLD) took almost 5x times longer to reach the same milestone.

• Also Read :
•   Altcoin ETF Summer: Solana and Litecoin Top ETF Approval List, XRP Holds Strong at 85%
• ,

Strong Demand From Big Investors

IBIT launched in the U.S. in January 2024 and has already attracted nearly $50 billion in inflows. That’s more than any of the other 10 spot Bitcoin ETFs that launched at the same time. 

Even with a big outflow of $430.8 million in May, IBIT has bounced back strong, riding the wave of Bitcoin’s price surge past $111K.

Although the excitement isn’t just about IBIT. Altogether, U.S. spot Bitcoin ETFs are on the verge of hitting a staggering $1 trillion in trading volume, an incredible leap from $100 billion just a few months ago.

IBIT Share Hit All-Time High

Meanwhile, the growing IBIT share price also hit a new peak of $63, offering investors returns of around 150% since the fund launched in January 2024. 

As of now, shares are trading near $62, reflecting growing trust in Bitcoin’s long-term value.

FAQs