BlackRock IBIT AUM tops $90 billion… enters 'Top 20 ETFs'

JOON HYOUNG LEE

Summary

It reported that BlackRock's U.S. spot Bitcoin (BTC) ETF IBIT's assets under management were $90.7 billion.
IBIT has entered the top 20 ETFs by assets under management, and there is a possibility of entering the top 10 ETFs next year.
On the 1st, IBIT's net inflows were $395 million, and on the same day net inflows for all U.S. spot Bitcoin ETFs were $665 million.

The world's largest asset manager, BlackRock's U.S. spot Bitcoin (BTC) exchange-traded fund (ETF), has surpassed $90 billion in assets under management (AUM).

On the 2nd (local time), CoinDesk reported that BlackRock IBIT's assets under management stood at $90.7 billion (about 127 trillion won) as of that day. IBIT is BlackRock's spot Bitcoin ETF launched in January last year. CoinDesk said, "IBIT's assets under management have increased 175% since its launch last year," and "it has entered the top 20 ETFs by assets under management for the first time."

There are also views that BlackRock IBIT could enter the top 10 ETFs next year. Eric Balchunas, a Bloomberg ETF analyst, said, "There is roughly a $50 billion gap to reach the top 10," and "if the last 12 months' trend repeats, entering the top 10 may not take long." He added, "If I were to predict (the timing of entry), I would set the end of next year as a reference point."

Meanwhile, BlackRock IBIT recorded net inflows of $395 million on the previous day (the 1st). On the same day, net inflows for all U.S. spot Bitcoin ETFs amounted to $665 million.

BTC