BlackRock Bitcoin ETF races towards the $100 billion mark: Expected to achieve a historic milestone in July.

BlackRock Bitcoin ETF Aims for $100 Billion Asset Management Milestone

Bloomberg's senior ETF analyst Eric Balchunas stated that BlackRock's iShares Bitcoin Trust ETF (IBIT) is in a phase of rapid growth and is expected to reach an asset management scale of $100 billion by the end of this month. This achievement not only sets a new historical record for ETFs but also signifies the growing interest of institutions in Bitcoin.

Previously, Balchunas expected IBIT to reach this goal by the end of summer, but recent data surges prompted him to move the timeline forward. On July 11, IBIT attracted nearly $1 billion in inflows in just one day, adding an exclamation mark to the week's performance.

Bitcoin hits a new high, IBIT assets rapidly expand to $88 billion

With Bitcoin reaching an all-time high (ATH) in July, the assets of IBIT have also surged, quickly surpassing $88 billion. Balchunas stated on platform X that this "overnight surge" is the main driving factor behind the significant inflow into ETFs, becoming an important barometer for measuring the heat of the crypto bull market.

He stated: "The growth rate of the iShares Bitcoin Trust is unprecedented, and it is expected that assets will exceed $100 billion in less than two years, which is a first in the history of ETFs and even mutual funds."

Currently, IBIT has purchased over 700,000 Bitcoins, accounting for 3.60% of the total supply on the network. This fund is not only the fastest ETF to reach 80 billion USD in history but also BlackRock's most profitable ETF product at present.

Bitcoin ETF is expected to exceed the scale of gold ETF by three times in the next 5 years.

In addition to BlackRock's ETF, the entire Bitcoin ETF market is also experiencing structural growth. Bloomberg analysts expect that by 2030, the total size of these spot Bitcoin ETFs will reach three times that of gold ETFs.

Balchunas pointed out: "The Bitcoin ETF has a strong value proposition, and coupled with the marketing capabilities of the issuing institutions, we expect its growth potential to far exceed that of the gold ETF."

This trend is also accompanied by the rise of altcoin ETFs such as the Ethereum ETF. Data shows that inflows into the Ethereum ETF reached $900 million last week, setting a record high since its launch, marking that institutional investors' widespread interest in crypto assets is no longer limited to Bitcoin.