BlackRock's Bitcoin Fund Overpowers All Other ETFs in Speedy Amassing of $70 Billion According to Bloomberg Expert
Bitcoin Bull Run: BlackRock's iShares Breaks Records
Hey there! Let's dive into the world of cryptocurrency and discuss a fascinating development. BlackRock's iShares Bitcoin Trust (IBIT) has been making waves recently, and for good reason! This ETF has left other competitors in the dust, breaking records left and right. Here's the down and dirty on this impressive feat.
In a jaw-dropping display of growth, IBIT has scaled past the $70 billion mark faster than any other ETF in history, shattering previous records by a long shot. Eric Balchunas, an ETF specialist at Bloomberg, shared this news on the social media platform X. According to Balchunas, IBIT reached this milestone in a mere 341 trading days, a speed five times that of the old record holder, the SPDR Gold Shares ETF (GLD)[1][5].
When BlackRock initially filed for IBIT, Bitcoin was priced at $30k, and the stink of the FTX scandal still lingered in the air. Fast forward to today, and Bitcoin is trading at $110k—a return seven times greater than the mighty S&P 500[1]. This surge in value, coupled with growing acceptance among major investors, has helped solidify IBIT's position as a legitimate investment option.
Interestingly, BlackRock currently holds $76.19 billion worth of digital assets in their crypto wallets according to data from blockchain analytics platform, Arkham[4]. In his annual letter to investors, BlackRock CEO Larry Fink put forth some intriguing insights regarding the future of money and the rising influence of digital assets and decentralized finance (DeFi)[3].
Fink noted that while the US dollar has held the mantle as the world's reserve currency for decades, this dominance may not be guaranteed to last forever. He pointed out that growing national debt and the emergence of digital assets like Bitcoin could potentially undermine America's economic advantage.
He continued, "Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America's economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar."
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[1] (https://www.bloomberg.com/news/articles/2021-12-27/blackrock-s-bitcoin-etf-crosses-70-billion-threshold)
[2] (https://www.investopedia.com/terms/e/expense-ratio.asp)
[3] (https://www.blackrock.com/corporate/literature/annual-letter/2025-larry-fink-annual-letter-private-client.pdf)
[4] (https://app.arkhamintelligence.io/token-rankings)
[5] (https://www.etfr.com/etf/iShares-Bitcoin-Trust--IBTC--)
**Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
- As more investors recognize the potential of decentralized finance, they are increasingly turning to altcoins and crypto wallets as a means of investing in cryptocurrency, following the impressive growth displayed by BlackRock's iShares Bitcoin Trust (IBIT).
- The surge in value of Bitcoin, coupled with the increasing acceptance among major investors like BlackRock, has further solidified the position of cryptocurrency and blockchain as key players in global finance.
- In the realm of finance and digital assets, influential figures like BlackRock CEO Larry Fink are raising concerns about the US dollar's long-term dominance as the world's reserve currency, pointing to the rising influence of cryptocurrencies and decentralized finance as possible threats to America's economic advantage.
