So, BlackRock, that behemoth of investment, has a Bitcoin ETF that’s doing rather well, thank you very much. It’s amassed \$70 billion in assets in a mere 341 trading days. Now, I’m no financial whiz, but even I can tell you that’s quite nippy. It’s the Usain Bolt of fund accumulation, leaving others in a cloud of dust.💨 Apparently, investors are rather keen on this regulated Bitcoin malarkey. Who knew?
Investors, Like Sheep, Flock to… Something
Eric Balchunas, some sort of ETF guru, noted that IBIT “blew through \$70 billion” on June 9. Blown through! Sounds rather violent, doesn’t it?💥 Anyway, it seems this dash to riches was five times faster than SPDR Gold Shares (GLD). Gold, eh? That’s what old people invest in, isn’t it?👵👴
Currently, IBIT lords over \$71.9 billion and holds 661,457 BTC. That puts it ahead of Binance (629,190 BTC) and Michael Saylor’s Strategy (582,000 BTC). It’s like a digital arms race, but with fewer explosions and more confusing jargon.
$IBIT just blew through $70b and is now the fastest ETF to ever hit that mark in only 341 days, which is 5x faster than the old record held by GLD of 1,691 days. Nice chart from @JackiWang17
— Eric Balchunas (@EricBalchunas) June 9, 2025
A Financial Tug-Of-War
According to Farside Analytics (whoever they are), IBIT has been top dog among the 11 spot Bitcoin ETFs since January 2024. Nearly \$49 billion in net inflows! That’s a lot of digital dosh.💰 But it hasn’t all been sunshine and rainbows.🌈
After a 31-day streak of money piling in, IBIT saw its largest single-day outflow—\$431 million—on May 30. A reminder, if one were needed, that these funds are about as predictable as a caffeinated toddler.🤪
BlackRock On Track to Rival Satoshi
At this rate, BlackRock might control more Bitcoin than Satoshi Nakamoto himself by next summer. Nakamoto, that mysterious, possibly mythical figure, is thought to control around 1.1 million BTC—about 5% of all the Bitcoin that will ever exist.
If IBIT gets that big, one company will match the original hoard. It shows how big institutions are muscling in on a market that was once the domain of individuals.
Price Moves Mirror ETF Trends
IBIT shares were going for \$61.77 at the time of writing. That’s up 5.30% over the past week, as Bitcoin’s spot price climbed back toward \$110,000. When Bitcoin goes up, the ETF goes up. When it goes down, the fund can see outflows. It’s all rather straightforward, really… until it isn’t.🤷
Debate Over What Growth Means
Blockstream CEO Adam Back said last week that most people need an easy way to buy Bitcoin. Apparently, setting up wallets and managing private keys is beyond most of us. Which, let’s be honest, isn’t terribly surprising.
But he also warned against keeping “90% of it in ETFs” because it would create new risks. He’s highlighting the tension between making things easy and keeping Bitcoin true to its original, slightly bonkers, design.
BlackRock’s wildly successful ETF is a big deal for crypto. It shows there’s a lot of demand from big investors and makes Bitcoin more accessible. But it also raises questions about who’s really in charge and how that might change things. 🤔
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2025-06-10 18:05