Key Insights:
- BlackRock Bitcoin ETF hit the $100 Billion AUM in under 450 days. It’s nearly six times faster than Vanguard’s S&P 500 ETF.
- BlackRock’s IBIT inflows coincide with Bitcoin hitting all-time highs above $126,000. This reflects heightened institutional demand.
- The IBIT share price has surged 60% over six months, trading at an all-time high of $71.26.
Inflows into spot Bitcoin ETFs have increased significantly, with the BlackRock iShares Bitcoin Trust (IBIT) leading the way. On October 6, IBIT recorded a staggering $966 Million in inflows, with its assets under management now approaching $100 Billion.
This surge coincides with Bitcoin’s rally to an all-time high above $126,000. This echoes the momentum seen in the recent gold rally.
BlackRock Bitcoin ETF (IBIT) to Hit $100 Billion Milestone
On Monday, October 6, the BlackRock iShares Bitcoin Trust (IBIT) clocked a massive $966 Million in net inflows. The net assets under management for the BlackRock fund have now approached $100 Billion.
This is a milestone achievement, considering it occurred within 500 days of launch. BlackRock’s IBIT is nearing $100 Billion in assets under management. In comparison, Vanguard’s S&P 500 ETF (VOO) took over 2,000 days to reach that level. VOO remains the largest ETF globally.
In contrast, IBIT is set to cross $100 Billion in less than 450 days since its launch. This makes it nearly the fastest-growing Bitcoin ETF in almost three decades, said Nate Geraci.
BlackRock’s iShares Ethereum Trust (ETHA) recorded net inflows of 18,959 ETH, valued at approximately $92.17 Million, on Monday. The fund also saw $2 Billion in trading volume, signaling continued institutional demand for exposure to Ethereum.
As of date, the BlackRock Bitcoin ETF now ranks as the seventh-largest among all global funds. Additionally, it’s also the best-performing fund, with staggering returns of $79.5 Million over the past month.
BlackRock Bitcoin ETF Follows BTC Price to $126,000
Over the past week, BlackRock’s IBIT has been leading most of the inflows across all US issuers. According to data from Farside Investors, the total inflows since inception have exceeded $63.6 Billion.
Market analysts believe that BlackRock’s IBIT continues to demonstrate a strong positive correlation with the Bitcoin price. This clearly reflects heightened institutional influence on market movements.
Amid these strong inflows, the IBIT share price has staged a massive 60% on the six-month chart. As of now, IBIT’s share is trading at its all-time high of $71.26. This highlights strong institutional demand for the fund, driving the price higher.
On October 6, Fidelity’s FBTC and Bitwise’s BITB saw fresh inflows. Each fund netted around $100 Million alongside IBIT.
BTC Price Hits All-Time Highs
The inflows into spot Bitcoin ETFs come as the Bitcoin price continues to rally. It hit an all-time high of $126,000 on Monday, October 6.
However, BTC has retraced since then and is currently forming a strong support at $123,000. With the Bitcoin price rallying in quick succession recently, analysts are taking a cautious approach moving ahead.
Crypto analyst Ted Pillows commented on Bitcoin’s recent price action, noting that BTC has broken the $126,000 level. He pointed out that significant liquidity has built up on the downside. This makes it uncertain whether Bitcoin will continue its rally or retrace to absorb that liquidity.
Pillows is optimistic about a strong Q4 for Bitcoin and Ethereum. He compared their outlook to the recent gold rally. Gold has posted five straight weeks of gains with minimal corrections.
Despite this optimism, he cautioned that a sustained gold rally could temper risk appetite for other assets.
Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fiction novels and sometimes explores his culinary skills.
 recorded $966 million in inflows, with AUM reaching close to $100 billion amid BTC price all-time high.){kind=link}