- BlackRock’s IBIT reached a brand new document in 211 days, surpassing iShares Core MSCI Rising Markets ETF’s earlier document of 1,253 days
- BlackRock’s new document comes two weeks after it hit $30 billion in web belongings on the finish of October
- BlackRock is now within the prime 1% of all ETFs by belongings and is larger than all of the ETFs launched up to now 10 years
BlackRock has performed it once more. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a document of over $41 billion in web belongings in 211 days.
Information of the milestone comes two weeks after BlackRock reached $30 billion in web belongings in 293 days on the finish of October.
Posting on X in October, Bloomberg analyst Eric Balchunas, stated what BlackRock has achieved is an “all-time record,” including “the old record 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 document of 1,253 days held by iShares Core MSCI Rising Markets ETF, in accordance with Balchunas.
In a publish on X, he stated: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”
JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a document 211 days, annihilating prev document of 1,253 days held by $IEMG. It is now in High 1% of all ETFs by belongings and at 10mo previous it’s larger than all 2,800 ETFs launched up 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 accordance with iShares information.
Reaching new heights
The brand new document 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 due to 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 might attain $200,000 in 2025, urging buyers to “buy everything they can.”
It stays to be seen how far Bitcoin will go, however for now, it’s exhibiting no indicators of slowing down.
