BlackRock’s IBIT Hits $70B in Record Time

Reading Time: < 1 minute

BlackRock’s IBIT, the leading spot Bitcoin ETF, has made history by amassing $70 billion in assets in under a year—smashing gold’s long-standing record.

Launched in January, IBIT reached the milestone in just 341 days, compared to the 1,691 days it took SPDR Gold Shares (GLD) to achieve the same. “A stunning 5x faster than gold’s ETF,” tweeted Bloomberg’s Eric Balchunas.

The fund’s dominance is clear: It dwarfs Fidelity’s FBTC ($31B) and recently saw 34 straight days of inflows. While GLD remains the largest commodity ETF at $100 billion, Bitcoin’s explosive growth highlights its appeal as a modern store of value.

Both assets have rallied in 2024 amid geopolitical and economic turbulence, including potential trade shifts under a Trump administration.