Bitcoin ETF Frenzy: BlackRock’s Speed Run To $70 Billion Shakes The Market

BlackRock’s Bitcoin ETF has hit a new high. It reached $70 billion in assets in just 341 trading days. That makes it the fastest fund ever to cross that line. Investors poured in at a pace few expected. And the milestone shows how much appetite there is for regulated Bitcoin products.

Investors Flock To A Trusted Vehicle

According to ETF analyst Eric Balchunas, IBIT “blew through $70 billion” on June 9. That run is roughly five times quicker than SPDR Gold Shares (GLD), which took 1,691 trading days to hit the same mark.

IBIT now manages about $71.9 billion and holds 661,457 BTC. It sits ahead of Binance, with 629,190 BTC, and Michael Saylor’s Strategy at 582,000 BTC.

$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 pic.twitter.com/5VeGT9twpQ

— Eric Balchunas (@EricBalchunas) June 9, 2025

Flows Show Both Gains And Pullbacks

Based on reports from Farside Analytics, IBIT led all 11 spot Bitcoin ETFs since its January 2024 debut. It attracted nearly $49 billion in net inflows, dwarfing rivals. Yet not every day has been smooth.

After a 31-day streak of fresh money, IBIT logged its largest single-day outflow—$431 million—on May 30. That shift is a reminder that these funds still move with Bitcoin’s own ups and downs.

At the current pace, BlackRock could hold more Bitcoin than its mysterious creator, Satoshi Nakamoto, by next summer. Addresses tied to Nakamoto are estimated to control around 1.1 million BTC—about 5% of the total 21 million coins.

If IBIT reaches that level, one single firm would match the original stash. It’s a sign of how big institutions are moving into a market once ruled by individuals.

IBIT shares traded at $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 spikes, the ETF follows. When it dips, the fund can see outflows.

In an interview last week, Blockstream CEO Adam Back opined that most individuals require an easy means of acquiring Bitcoin. According to him, most newcomers are unaware of how to configure wallets or manage private keys.

However, he also cautioned against keeping “90% of it in ETFs” as it would introduce new risks. His opinion reflects the conflict between access convenience and the preservation of Bitcoin’s original design.

BlackRock’s blockbuster ETF is a watershed for crypto. It reflects wealthy demand from institutional investors and brings Bitcoin within more mainstream accessibility. But it raises new questions about who controls the keys and how that power might shape markets.

Featured image from Creditcoin, chart from TradingView