$70 Billion in 341 Days: BlackRock Sets a World Record with Its Bitcoin ETF

BlackRock's Bitcoin Cash ETF continues to break records. It became the fastest to reach $50 billion in assets under management (AUM) last March. And it has now become the fastest to surpass $70 billion in AUM.

BlackRock's IBIT fund took just 341 days to reach this amount. The previous record holder, the SPDR Gold Shares ETF (GLD), took 1,691 days to reach $70 billion in AUM.

With 661,457 BTC currently held, BlackRock's IBIT ETF is already the largest institutional holder of Bitcoin. It even surpasses the giant Binance, which holds 629,190 BTC.