BlackRock Bitcoin ETF Nears $100B
BlackRock's iShares Bitcoin Trust (IBIT) is poised to achieve a remarkable milestone. Bloomberg senior ETF analyst Eric Balchunas predicts the ETF will surpass $100 billion in assets under management (AUM) by the end of July. This projection follows a significant surge in inflows and a recent Bitcoin price rally.
BlackRock Bitcoin ETF's Rapid Growth
Balchunas's revised prediction, previously estimating the $100 billion mark sometime this summer, is based on recent market activity. On July 11th alone, IBIT saw nearly $1 billion in inflows, concluding a strong week of growth. This substantial influx, coupled with Bitcoin's price increase, has propelled IBIT's AUM to $88 billion.
In a recent X post, Balchunas highlighted IBIT's extraordinary performance: "At only 1.5 years old, it's now the 20th biggest ETF in the US and BlackRock's #1 most profitable ETF."
Unprecedented Success
IBIT's trajectory is unprecedented. Since its launch, it has accumulated over 700,000 BTC, representing 3.6% of Bitcoin's total supply. It holds the record as the fastest ETF to reach $80 billion in AUM and continues to break records.
Bitcoin ETFs Poised for Explosive Growth
Bloomberg analysts forecast even more substantial growth for Bitcoin ETFs in the coming years. Balchunas projects that Bitcoin ETFs, spearheaded by BlackRock's IBIT, will triple the size of gold ETFs within the next 3-5 years.
This optimistic outlook stems from increasing institutional interest and the strong value proposition of Bitcoin ETFs. The market also shows significant interest in altcoin-based ETFs, as evidenced by recent inflows into Ethereum ETFs.
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