The BlackRock Bitcoin spot exchange-traded fund (ETF), known as IBIT, is rapidly accumulating assets and is projected to exceed $100 billion this month, according to analysis from Eric Balchunas, a Bloomberg ETF specialist.
Balchunas shared his insights in a June 14 comment on X, noting that his previous estimates for IBIT reaching the $100 billion milestone this summer may be too conservative. He emphasized the fund’s impressive growth, currently holding around $88 billion, spurred by significant investment flows and a substantial overnight price increase in Bitcoin, exceeding $120,000.
The current assets under management (AuM) position IBIT as the 20th largest ETF across all sectors in the United States, and BlackRock’s seventh largest. Notably, despite being only a year and a half old, it is already generating the most profit among BlackRock’s entire suite of ETFs.
Market observers suggest that the recent significant appreciation in Bitcoin’s value will likely provide further impetus, drawing additional investment from institutional investors into the ETF.
Bitcoin analyst Kiwi stated:
“A continued upward trend this week could signal a large-scale shift towards BTC/IBIT. The capital currently waiting on the sidelines is not from retail investors, but represents sophisticated institutional money. How long can these entities afford to remain inactive while this opportunity progresses? The potential professional risk associated with not holding a meaningful allocation to Bitcoin is increasing rapidly.”
Data provided by SoSo Value indicates that $IBIT’s cumulative net inflows reached $54.40 billion as of July 11. The ETF now controls over 705,000 BTC, representing roughly 3.6% of the total supply of Bitcoin in circulation. Bitcoin