The Bitcoin ETF from #BlackRock⁩ set an absolute record, reaching $70 billion in assets under management in just 341 days. In comparison, the previous record holder, the SPDR Gold Shares, took a full 1,691 trading days to achieve a similar result.

"IBIT just zipped past the $70 billion mark and has now become the fastest ETF in history to reach this figure in just 341 days," wrote ETF analyst Eric Balchunas on social media X on June 9.

#IBIT gathered $70 billion five times faster than gold #etf

BlackRock outpaces everyone in growth speed

The IBIT fund, trading on the Nasdaq, is managing assets worth $71.9 billion at the time of publication. The company's portfolio includes 661,457 Bitcoins, which automatically makes BlackRock the largest institutional holder of the cryptocurrency. It has surpassed even giants like the exchange #Binance with 629,190 Bitcoins and Michael Saylor's Strategy company with 582,000 coins.

However, the absolute leader remains the legendary creator of Bitcoin — Satoshi Nakamoto. Analysts estimate his holdings at approximately 1.1 million BTC, which accounts for about 5.2% of the total supply of 21 million coins.

But even this figure may soon become achievable for BlackRock. Balchunas indicated back in May that the company is likely to surpass Nakamoto's holdings "by the end of next summer."

IBIT shares show steady growth

At the time of writing, IBIT shares are trading at $61.77, having gained 5.30% over the past five days amid Bitcoin's return to the $110,000 mark. In particular, on June 9, shares jumped by 4.24% during the trading session.

Since its launch in the U.S. in January 2024, IBIT has significantly outpaced the other 10 spot Bitcoin ETFs launched on the same day. The BlackRock fund recorded $48.7 billion in net inflows according to Farside data.

However, not everything was smooth. On May 30, IBIT ended an impressive 31-day inflow streak with a record one-day outflow of $430.8 million. But even this setback did not prevent the fund from receiving the "Best New ETF" award at the annual etf.com ceremony in April.