BlackRock's iShares Bitcoin Trust ETF (IBIT) is shattering records at an incredible rate. The world's largest asset management recently announced the purchase of 2,535,357 IBIT shares worth $91.6M.
IBIT's performance has been impressive. It received $230M in inflows on Wednesday alone. The ETF's total net assets are currently $42.56B, representing nearly $30B in cumulative inflows.
Bloomberg analyst Eric Balchunas claims that IBIT topped $40B in just 211 days — six times faster than the previous record-holder. The ETF is now among the top 1% of assets under management. BlackRock's Bitcoin acquisition rate is also excellent. They contributed approximately 9,000 BTC in 24 hours, vastly surpassing the competition. This rise comes as Bitcoin's price hit $93,000.
IBIT's performance demonstrates the growing institutional interest in cryptocurrency. It consistently ranks first among Bitcoin ETFs, particularly since the latest market bull run. With no indications of slowing, BlackRock's IBIT continues to dominate the crypto ETF scene.
