- BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
- BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
- BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years
BlackRock has reached another major milestone: its IBIT spot Bitcoin exchange-traded fund (ETF) has grown to more than $41 billion in net assets in just 211 days since launch. This rapid accumulation places IBIT among the fastest-growing ETFs on record.
The announcement follows a previous milestone at the end of October, when BlackRock’s ETF passed $30 billion in net assets. That earlier threshold was recorded after 293 days, underscoring how quickly inflows accelerated in the weeks that followed.
Bloomberg analyst Eric Balchunas highlighted the significance of the pace on social media, noting that BlackRock’s achievement sets a new all-time record for asset growth speed among ETFs. The previous record was held by the iShares Core MSCI Emerging Markets ETF, which reached its milestone in 1,253 days. Other major ETFs such as JEPI and GLD took even longer, demonstrating how exceptional IBIT’s growth has been.
Balchunas also pointed out that, at just ten months old, IBIT now ranks in the top 1% of all ETFs by assets. In that short time frame it has surpassed the size of every ETF launched in the past decade, a remarkable feat that underscores strong investor demand for a regulated spot Bitcoin exposure within the ETF wrapper.
JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a record 211 days, annihilating prev record of 1,253 days held by $IEMG. It’s now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years. pic.twitter.com/WTATlpShUq
— Eric Balchunas (@EricBalchunas) November 13, 2024
According to iShares’ published data, BlackRock’s IBIT currently holds more than 467,000 Bitcoin, with an estimated market value of approximately $41.8 billion. The ETF’s rapid inflows reflect growing institutional and retail interest in regulated, convenient access to Bitcoin through traditional investment channels.
Reaching new heights
The record for IBIT coincides with a significant rally in Bitcoin’s price. On November 13, Bitcoin reached a fresh all-time high above $93,000 amid sustained buying pressure and market momentum. That price advance followed a series of notable price milestones earlier in the month.
The market’s upward move accelerated after major political developments in the United States. Following the news of Donald Trump’s re-election as president, Bitcoin rose past several psychological and technical levels: it broke through $75,000, then $82,000, and subsequently climbed past $84,000 and $87,000 in successive moves. Those gains contributed to the ETF’s rising asset base as investors sought exposure to the cryptocurrency.
In September, analysts at Bernstein forecasted a rally to between $80,000 and $90,000 for Bitcoin if Trump won the election. With prices now above that range, some analysts have revised their longer-term projections upward. Bernstein analysts have suggested that Bitcoin could reach even higher levels in the coming year, with price targets cited by some market observers reaching as high as $200,000 in 2025. Such forecasts have prompted strong interest from investors and analysts urging broader allocation to crypto assets.
While forecasts vary and the market remains volatile, IBIT’s asset growth and Bitcoin’s recent price performance together illustrate a period of heightened investor appetite for cryptocurrency exposure via established financial products. For now, the market’s direction remains driven by macro news, investor sentiment, and continued flows into Bitcoin-focused investment vehicles.
It is still uncertain how far Bitcoin’s rally will extend, but BlackRock’s IBIT has already set a new standard for ETF adoption speed and size, underlining the evolving role of traditional asset managers in mainstream cryptocurrency investment.