BlackRock Bitcoin ETF Breaks Record as IBIT Stock Strikes $63 ATH
The post BlackRock Bitcoin ETF Breaks Record as IBIT Stock Hits $63 ATH appeared on BitcoinEthereumNews.com. The post BlackRock Bitcoin ETF Exceeds as IBIT Stock Hits $63 ATH appeared initially on Coinpedia Fintech News. BlackRock’s iShares Bitcoin Trust (IBIT) has just reached a significant milestone, both in price and popularity. With Bitcoin prices surging and institutional demand expanding, IBIT is now one of the fastest-growing ETFs in U.S. history. How did it beat gold and S&P 500 ETFs to this record, and what does it imply for Bitcoin’s future on Wall Street? Let’s break down!
$336 Million in a Single Day
On June 10, BlackRock added 3,005 more Bitcoins to its ETF portfolio, worth about $336 million, bringing its total holdings to an incredible 662,571 BTC. This pushed its total assets under management (AUM) to $72.7 billion. The numbers are impressive, but what truly stands out is the speed of this growth. IBIT reached the $70 billion mark in just 341 trading days, faster than any other ETF in history. According to ETF expert Eric Balchunas, no other ETF in U.S. history has grown this quickly. To put this in perspective, the popular SPDR Gold Shares (GLD) took nearly 5x times longer to reach the same milestone.
Read: Altcoin ETF Summer: Solana and Litecoin Top ETF Approval List, XRP Holds Strong at 85%, Strong Demand From Big Investors. IBIT launched in the U.S. in January 2024 and has already attracted nearly $50 billion in inflows.
