BlackRock’s Bitcoin ETF Sets Record as Fastest to Reach $70 Billion, Outpacing Gold

On June 9, in a landmark achievement for cryptocurrency investment products, BlackRock’s iShares Bitcoin Trust (IBIT) became the fastest exchange-traded fund (ETF) to reach $70 billion in assets under management (AUM), surpassing the previous record held by a gold-based ETF. The milestone, achieved in just 341 days of trading since its launch in January 2024, underscores the growing institutional appetite for Bitcoin as a legitimate asset class. By comparison, the SPDR Gold Shares (GLD), the former record holder, took 1,691 days to reach the same AUM threshold, making IBIT’s growth more than five times faster.

Unprecedented Growth in Bitcoin ETF Market

BlackRock’s IBIT has solidified its position as the largest spot Bitcoin ETF, with its $69.57 billion in AUM dwarfing competitors like Fidelity’s FBTC ($21.35 billion) and Grayscale’s GBTC ($20.13 billion) as of press time. The fund’s rapid ascent reflects a broader trend of capital flowing into Bitcoin ETFs, with U.S.-based spot Bitcoin ETFs collectively managing approximately $130.22 billion in assets. Over the past five weeks alone, these funds have attracted more than $13 billion in inflows, while gold ETFs have seen outflows of around $962 million, highlighting a shift in investor preference toward digital assets.

The surge in Bitcoin ETF investments coincides with Bitcoin’s price performance, which has seen significant gains in 2025. As of June 10, Bitcoin is trading at approximately $110,000, following a peak of $111,310 earlier this year.

Institutional Adoption and Market Dynamics

Bloomberg Senior ETF Analyst Eric Balchunas noted that IBIT’s growth has been driven largely by institutional investors, with recent inflows suggesting a “buying spree” rather than retail-driven momentum. This institutional interest is further evidenced by IBIT’s 34-day streak of inflows, which ended on May 30 with a record single-day outflow of $434 million. Despite this, the fund’s AUM has continued to climb, surpassing $70 billion by June, placing it among the top 25 ETFs globally by assets.

The broader crypto market has also seen increased corporate engagement. As of June 9, top 100 public companies hold more than 818,000 BTC, with newer entrants like GameStop and K33 joining established players like Strategy. This growing corporate adoption mirrors the institutional enthusiasm seen in Bitcoin ETFs.

Global Reach and Future Prospects

The influence of BlackRock’s IBIT extends beyond the U.S. market. In early June, Russia’s largest stock exchange, MOEX, debuted futures trading for IBIT, marking a significant step in global adoption of Bitcoin-based financial products. This development aligns with the fund’s entry into the top 25 ETFs worldwide, a testament to its rapid integration into mainstream finance.

Looking ahead, the success of IBIT and other spot Bitcoin ETFs signals a maturing crypto market. However, Bitcoin’s price has not always risen in lockstep with ETF inflows. Other market dynamics, such as macroeconomic conditions, continue to play a role.