In January 2024, when the U.S. Securities and Exchange Commission approved the first spot Bitcoin ETFs, many questioned their impact. Less than 18 months later, BlackRock’s iShares Bitcoin Trust (IBIT) has shattered expectations, surpassing $70 billion in assets under management—the fastest growth ever recorded for an ETF.
IBIT reached this milestone in just 341 trading days, outpacing the SPDR Gold Trust (GLD), which took 1,691 days, and the S&P 500 ETF (VOO), which needed 1,701 days to hit the same mark.
Data from Farside Investors shows that between May 23 and June 11, IBIT attracted inflows exceeding 49,000 BTC, while competitors like Grayscale’s GBTC experienced outflows of over 23,000 BTC. The net inflow of roughly 45,000 BTC during this period equals about $5 billion in new investment.
On June 10 alone, IBIT recorded an inflow of 336.7 BTC, signaling sustained institutional interest even as Bitcoin approaches all-time highs near $110,000.
Analysts describe the surge in Bitcoin ETFs as the “institutionalization of crypto.” Once seen as a fringe asset, Bitcoin has entered mainstream portfolios, pension funds, and bank-backed investment products. Major financial firms such as BlackRock, Fidelity, and Franklin Templeton now manage crypto exposure for their clients.
The momentum extends beyond Bitcoin. Ethereum spot ETFs are under SEC review, with filings from VanEck, ARK, and Invesco advancing. Specialized products, including Ethereum staking ETFs, multi-asset crypto index funds, and proposals for Solana and XRP ETFs, are also emerging.
The SEC’s approval provided crucial legitimacy, supported by reputable custodians, transparent pricing benchmarks from CME and Coinbase, and daily liquidity.
Despite Bitcoin’s volatility, potential macroeconomic shifts, and ongoing regulatory challenges, investor demand remains robust. Capital is flowing into crypto ETFs—and at a record pace.
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