Bitcoin‘s Newest Star: The ETF That Outpaced Gold and Left Us All Gasping! 💰✨

Well, darlings, it seems BlackRock’s iShares Bitcoin Trust (IBIT) has just waltzed past the $70 billion mark in assets under management, as our dear Bloomberg ETF analyst, Eric Balchunas, so delightfully pointed out on June 9. One can only imagine the confetti raining down in the boardroom!

In a mere 341 days, IBIT has achieved what no other ETF has managed to do—becoming the fastest to reach such dizzying heights. To put it in perspective, the previous record was held by the SPDR Gold Shares ETF (GLD), which took a leisurely 1,691 days. Oh, how the tables have turned! 🍾

According to the BlackRock website, the fund’s AUM is now a staggering $71.8 billion, and it holds a jaw-dropping 661,457 BTC as of June 6. One can only wonder if they have a dedicated room just for counting those coins!

$IBIT just blew through $70b and is now the fastest ETF to ever hit that mark in only 341 days, which is 5x faster than the old record held by GLD of 1,691 days. Nice chart from @JackiWang17

— Eric Balchunas (@EricBalchunas) June 9, 2025

Institutional Hunger For BTC

It appears that institutional investors are leading this delightful rally, while retail investors seem to be on a permanent holiday. IBIT has only experienced three outflow days since early April, as it continues to gobble up assets like a hungry hippo at a buffet!

When BlackRock filed for IBIT, Bitcoin was languishing around $30,000, and the lingering aroma of FTX was still wafting through the air. Balchunas quipped on June 10 that now, with Bitcoin trading at a fabulous $110,000, it’s returned seven times that of the S&P 500. Who knew legitimacy could smell so sweet?

ETF Store President Nate Geraci chimed in on this milestone, reminding us that there are eleven other spot Bitcoin ETFs, and the sector overall boasts nearly $125 billion in AUM. “Ridiculous numbers,” he declared, and one can’t help but agree! 🎉

What a chart…

IBIT hits $70bil in 341 trading days.

No other ETF even close.

And remember… there are 11 other spot btc ETFs. Category overall is nearly $125bil.

Ridiculous numbers.

via @EricBalchunas

— Nate Geraci (@NateGeraci) June 9, 2025

On Monday, we witnessed a delightful reversal of outflows, with a net aggregate inflow of $386 million for the eleven funds, according to Coinglass. BlackRock had a rather pedestrian day with just $121 million in inflows, overshadowed by Fidelity’s impressive $173 million. Oh, the drama!

As for the largest Bitcoin holder, it’s estimated to be none other than its enigmatic creator, Satoshi Nakamoto, who holds around 1.1 million coins. However, Balchunas and his merry band of analysts believe that BlackRock could surpass this total by mid-2026 if the assets keep flowing in. What a plot twist!

Bitcoin Price Outlook

The reversal of ETF flows coincided with a delightful jump in spot markets, with Bitcoin reaching an intraday high of $110,260 in early trading in Asia on Tuesday. It did dip to $109,500 at the time of writing, but remained up 3.6% on the day. Just 2% away from another all-time high—how thrilling! 🎈

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2025-06-10 11:42