BlackRock’s spot Bitcoin ETF hits $40 billion, units new report in 211 days

• BlackRock’s IBIT reached a brand new report in 211 days, surpassing iShares Core MSCI Rising Markets ETF’s earlier report of 1,253 days
• BlackRock’s new report comes two weeks after it hit $30 billion in internet belongings on the finish of October
• BlackRock is now within the high 1% of all ETFs by belongings and is greater than all of the ETFs launched prior to now 10 years

BlackRock has completed it once more. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a report of over $41 billion in internet belongings in 211 days.

Information of the milestone comes two weeks after BlackRock reached $30 billion in internet belongings in 293 days on the finish of October.

Posting on X in October, Bloomberg analyst Eric Balchunas, mentioned what BlackRock has achieved is an “all-time report,” including “the previous report was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

With BlackRock’s new achievement, it’s surpassed the earlier report of 1,253 days held by iShares Core MSCI Rising Markets ETF, in response to Balchunas.

In a put up on X, he mentioned: “[BlackRock’s] now in Prime 1% of all ETFs by belongings and at 10mo previous it’s larger than all 2,800 ETFs launched prior to now TEN years.”

JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a report 211 days, annihilating prev report of 1,253 days held by $IEMG. It is now in Prime 1% of all ETFs by belongings and at 10mo previous it’s larger than all 2,800 ETFs launched prior to now TEN years. pic.twitter.com/WTATlpShUq

— Eric Balchunas (@EricBalchunas) November 13, 2024

Now, BlackRock holds greater than 467,000 Bitcoin, valued at $41.8 billion, in response to iShares information.

Reaching new heights

The brand new report comes as Bitcoin reached an all-time excessive of over $93,000 on November 13 in a continued rally that’s exhibiting no indicators of slowing.

The upward trajectory is partly on account of Donald Trump being re-elected as US President earlier this month. Following information of his win, Bitcoin broke the $75,000 mark. It then handed $82,000, and continued to $84,000, earlier than pushing to $87,000 earlier this week.

In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump gained the US election. With that prediction having now handed, Bernstein analysts imagine Bitcoin may attain $200,000 in 2025, urging traders to “purchase all the pieces they will.”

It stays to be seen how far Bitcoin will go, however for now, it’s exhibiting no indicators of slowing down.