BlackRock, a major player in asset management, has seen its Bitcoin exchange-traded fund (ETF) grow to over $50 billion in assets within just 11 months of its launch, according to reports.
A recent article from Bloomberg highlights the success of BlackRock’s iShares Bitcoin Trust (IBIT), noting that it has had the best debut of any ETF to date.
Todd Sohn, managing director at Strategas Securities, pointed out that IBIT’s current size is comparable to the combined assets under management of more than 50 European market-focused ETFs that have been around for over two decades.
Nate Geraci, president of The ETF Store, described IBIT’s launch as “the greatest in ETF history,” while analyst Eric Balchunas noted that IBIT reached the $50 billion mark much faster than any other ETF, including BlackRock’s iShares Core MSCI EAFE ETF.
IBIT has also surpassed BlackRock’s iShares Gold ETF in terms of assets, with last year’s net inflow reaching $37 billion. Geraci believes that if the price of Bitcoin remains stable, IBIT could potentially surpass SPDR Gold Shares, the world’s largest gold ETF, in 2025.
Analyst James Seyffart predicts that IBIT could generate around $112 million in annual revenue based on its current asset level and expense ratio.
“IBIT’s growth is unprecedented, setting new records across all asset classes,” Seyffart added.
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