BlackRock's IBIT: A Historic Milestone for Cryptocurrency on Wall Street
IBIT – BlackRock's iShares Bitcoin Trust has just achieved an unprecedented milestone. The cryptocurrency market witnessed a strong growth wave as IBIT recorded rapid growth in both scale and institutional demand. In just 341 trading sessions, IBIT reached 70 billion USD in AUM, surpassing veteran names like SPDR Gold Shares or S&P 500 index ETFs.
On June 10, BlackRock continued to purchase an additional 3,005 Bitcoin, equivalent to 336 million USD, raising the total Bitcoin held by IBIT to 662,571 BTC – an impressive figure in the digital asset world. The AUM value reached 72.7 billion USD, becoming an unprecedented record for any ETF in the United States.
IBIT's explosive expansion speed took nearly five times longer for gold ETFs like GLD to reach similar AUM. This event signals an extremely intense process of capital flow shifting from traditional assets to cryptocurrencies globally, especially on Wall Street.
Launched in January 2024, IBIT has attracted nearly 50 billion USD in investment flows – an outstanding achievement compared to other Bitcoin spot ETFs at the same time. Despite experiencing a strong capital withdrawal of 430.8 million USD in May, IBIT has made a fierce recovery, leveraging Bitcoin's rapid price increase, currently exceeding 111,000 USD.
The fever is not limited to IBIT. The total trading volume of all Bitcoin spot ETFs in the United States has approached 1,000 billion USD, a significant increase from just 100 billion USD a few months ago. Clearly, cryptocurrencies' attractiveness to institutional investors is reaching an unprecedented peak.
Another notable mark is IBIT's stock price reaching a historic high of 63 USD, delivering nearly 150% returns for investors since the fund's launch in January 2024. Currently, the stock is trading around 62 USD, confirming the market's confidence in Bitcoin's long-term trend and the maturity of standardized cryptocurrency investment products.
IBIT not only proves Bitcoin's appeal but also symbolizes global asset migration and growing confidence in cryptocurrency on the Wall Street stock exchange.
