BlackRock BTC ETF, the fastest growing ETF in history, manages over $30 billion in assets

BlackRock’s iShares Bitcoin Trust ETF (IBIT) has become the fastest-growing ETF in history, with more than $30 billion in assets under management.

“ IBIT reached the $30 billion milestone in just 293 days, setting a new record ,” said Eric Balchunas, senior ETF analyst at Bloomberg.

“This pace outpaces the growth of JPMorgan’s JEPI and major gold ETFs, which reached the $30 billion threshold in 1,272 and 1,790 days, respectively.”

Meanwhile, IBIT is expected to surpass gold ETFs in January.

Bloomberg data shows that with the massive inflow of funds and the rise in BTC prices on October 29, IBIT’s market valuation exceeded $30 billion.

The fund currently holds more than 417,000 BTC, which is about 2% of the total BTC supply .

BTC community member Sani pointed out that if BlackRock’s IBIT fund continues its current growth momentum, the fund could accumulate up to 500,000 BTC by the end of 2024.

If this goal is achieved, IBIT will become the third largest BTC holder in the world, behind Coinbase and Binance.

The success of the BlackRock ETF coincides with a surge in institutional demand for BTC.

As of October 29, ETFs reported a cumulative daily net inflow of $870 million, with BlackRock's IBIT leading the way .

Other leading funds also saw strong interest, with Fidelity’s FBTC receiving $133.86 million in net inflows, while Bitwise’s BITB attracted $52.49 million.

Meanwhile, VanEck’s HODL, Ark, and 21Shares’ ARKB recorded inflows of $16.52 million and $12.39 million, respectively.

The remaining spot BTC ETFs had no inflows on the day.

ETF Store President Nate Geraci highlighted that this level of inflows marks the third-highest average daily inflow for the spot BTC ETF since its launch in January .

According to research firm Crypto Quant, these impressive numbers reflect a broader trend of institutional interest in BTC.

The company’s founder and CEO Ki Young Ju noted that approximately 278,000 BTC (mainly from retail investors) have flowed into U.S. spot ETFs over the past year.

During the same period, about 670,000 BTC flowed into "whale" wallets holding more than 1,000 BTC, not including wallets in exchanges and mining.

“This trend shows that institutional demand for custodial wallets is about twice that of retail,” Ju explained.

The surge highlights the expanding role of institutional investors in the BTC market, with large funds such as BlackRock’s IBIT taking the lead .