Assets under management of BTC-ETF IBIT reached $40 billion in a record 211 days
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Johny Smith
2024/12/01
3 mins read
Bloomberg Intelligence researcher Eric Balchunas said BlackRock’s ETF under the ticker IBIT set a new record, reaching $40 billion under management in just 211 days since its launch. This event was an important achievement in the industry, as the Fund was able to achieve this level of assets significantly faster than previous leaders among similar products. For comparison, the closest competitor, the IEMG fund, “spent” 1253 days to achieve a similar level. The IBIT record highlights the growing investor interest in this instrument and its importance in the market.
The sharp increase in crypto assets under management indicates the high demand for this ETF among institutional and retail investors. The rapid success can be attributed to the increasing interest in digital currencies and, in particular, in instruments that provide market access through a regulated and safer environment, as ETFs do.
Analysts also note that IBIT entered the top 1% of all ETFs by assets under management in just 10 months of launch, surpassing more than 2,800 funds that were launched over the past 10 years. Such success, according to experts, may change the attitude of major players towards cryptocurrencies, which will lead to an increase in the number of similar instruments on the market.
By comparison, the VOO fund, which tracks the S&P 500, took just 1,362 days to reach $40 billion, while the IEFA fund, which tracks international stocks, took 1,271 days.
IBIT’s success can be seen as an important signal for the entire financial industry. It demonstrates that the market is ready for the mass adoption of cryptocurrency instruments through traditional financial channels. If the trend continues, other funds may follow suit, leading to further growth of the crypto industry and its integration into classical financial systems. Thus, IBIT not only broke records, but also set a new standard for ETFs focused on cryptocurrencies.
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