Catenaa, Thursday, December 05, 2024- BlackRock’s IBIT Bitcoin ETF has achieved a historic milestone, surpassing 500,000 BTC in assets under management (AUM) with a valuation of $48 billion.
This marks a significant achievement in the ETF’s trajectory, having launched less than a year ago on January 11, 2024.
Data from K33 reveals that $338.3 million in net inflows on November 29 propelled IBIT to hold 500,380 BTC, representing 2.38% of Bitcoin’s capped supply.
BlackRock’s ETF is now the third-strongest US ETF by year-to-date inflows, trailing only giants like Invesco’s QQQ. This growing demand underscores Bitcoin’s acceptance in mainstream finance.
Bitcoin’s price has also surged, trading at $94,762—up 38% since March, when BlackRock called IBIT the fastest-growing ETF in history.
BlackRock has hailed Bitcoin as “an asset class in itself,” unlinked to political events, though market analysts attribute ETF growth partly to post-election optimism in the US.
US Bitcoin ETFs now collectively hold nearly 1.1 million BTC, rivaling Satoshi Nakamoto’s estimated stash.
November alone saw record inflows of $6.6 billion into Bitcoin ETFs, driving prices to new highs. Ethereum ETFs have also gained traction, led by BlackRock’s ETHA, which saw $55.9 million in inflows.
Experts predict continued growth, with IBIT expected to surpass 1 million BTC in AUM by 2025.
