BlackRock's iShares Bitcoin Trust (IBIT) is rapidly approaching a historic $100 billion in assets under management, potentially reaching the milestone before July ends. According to Bloomberg analyst Eric Balchunas, IBIT's net assets have surged to approximately $88 billion—just $12 billion shy of the target—fueled by massive inflows and Bitcoin's rally above $120,000.
The ETF, only 1.5 years old, has become the 20th largest ETF in the U.S. and BlackRock's seventh-largest fund, while also ranking as the asset manager's most profitable ETF. Recent data shows explosive growth: IBIT absorbed nearly $1 billion in daily inflows last Friday and $2.72 billion for the week ending July 11, bringing cumulative net inflows to $54.40 billion.
IBIT now holds over 705,000 BTC, representing roughly 3.6% of Bitcoin's total supply. Contrary to claims of limited retail interest, approximately $135 billion of the $150 billion in U.S. Bitcoin ETFs stems from direct retail purchases or advisors acting for retail clients.
Balchunas emphasized IBIT's unprecedented trajectory, while Bitcoin analyst Kiwi warned of growing "career risk" for institutional investors avoiding BTC allocations as momentum builds.