Through the BlackRock (ETF) Ishares Bitcoin Trust (IBIT), 70 billion dollars of assets under management (AUM) were reached on June 6, being the fastest to reach this mark in just 341 days of trading. Bloomberg ETF analyst Eric Balchunas $ETH
The teacher on X pointed out that the fund surpassed the previous speed record of 1,691 days set by the SPDR Gold Shares ETF (GLD) by five times. The fastest path to 70 billion dollars. In addition to speed, the dominance of iBit also shines among other Bitcoin (BTC) funds. According to Bitcoin Treasury Data, the BlackRock fund holds more than three times the threefold vehicle, the wise asset of Fidelity's Bitcoin Trust (FBTC), with 21.3 billion dollars under management. Moreover, it dwarfs Ark 21shares' Arkb and Bitwise's Bitb, managing 4.6 billion dollars and 3.9 billion dollars, respectively. The old GBTC fund of Grayscale remains large at 19.3 billion dollars, but it is still three times smaller than iBit. IBIT holds approximately 662,707 BTC, nearly 20% of 3,404,140 BTC, which is organized on behalf of public companies, private companies, governments, exchanges, and smart contracts DEFI. New firepower. However, the dominance of IBIT among institutional Bitcoin holders may be threatened as interest extends beyond ETFs and suggests distribution on BTC supply in the coming years. Head of Digital Asset Research, Matthew Siegel, shared data from Wells Fargo on June 9, showing that six publicly traded companies collectively hold or plan to raise up to 76 billion dollars for potential Bitcoin purchases. The strategic companies include Twenty One Capital, Squer, Semler Scientific, Nakamoto Corp., and Trump Media and Technology Group. Siegel highlighted that the pool equals 56% of the current assets of the immediate Bitcoin ETF pool under management and 16% of net ETF flows accumulated over the past 16 months. The rapid rise of IBIT to 70 billion dollars cements instant Bitcoin funds as the dominant gateway for institutional exposure, while parallel capital indicates deeper consolidation in supply in the coming months. Mentioned in this article $BTC
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