BlackRock’s spot Bitcoin ETF hits historic $70 billion in AUM in 341 days

BlackRock’s spot Bitcoin ETF just pulled off something no other ETF has done this fast. The IBIT fund crossed $70 billion in assets under management after 341 days of trading, making it the fastest ETF to ever reach that level, according to Bloomberg’s senior ETF analyst Eric Balchunas.

Eric posted on X, saying, “IBIT just blew through $70 billion 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.”

IBIT is now leading the entire crypto ETF pack with a massive gap. The closest rival, Fidelity’s spot Bitcoin ETF, has around $31 billion in assets, based on tracking from The Block’s dashboard. That’s not even close. Over the last month, IBIT also saw 34 days straight of inflows, which means investors were buying into the fund every single day for more than four weeks.

This is all happening during a time when both Bitcoin and gold are seeing solid performance. One of the major factors driving this movement is economic uncertainty caused by trade policies under President Donald Trump.

BlackRock launched IBIT in January and now holds 2.8% of Bitcoin supply

BlackRock introduced the IBIT fund in January 2024, and it didn’t take long for it to start eating up a serious portion of the Bitcoin market. By April, the fund held 2.8% of the total circulating Bitcoin, according to data from Arkham Intelligence.

That means nearly 3 out of every 100 BTC in existence are sitting in this one fund. But the firm isn’t buying Bitcoin for itself — it’s holding it on behalf of its clients.

The previous ETF record-holder was SPDR Gold Shares, better known as GLD. That fund lets people invest in gold without buying physical bars or coins, and it’s been around since November 2004.

GLD is still the largest physically backed gold ETF globally and manages around $100 billion in total assets. But while it still holds more money overall, it took nearly five years to hit the $70 billion mark — way slower than IBIT’s less-than-a-year sprint.

Market signals suggest traders should slow down as risk climbs

While IBIT continues growing , signs in the broader Bitcoin market suggest that it might not be the best time to make new aggressive moves.

The 60-day Realized Cap Variance (RCV), which tracks market volatility and momentum, has officially left the “buy” zone. That window usually opens when conditions are low-risk and momentum is improving. But now, those yellow buy signals have disappeared.

Even though the RCV hasn’t hit red yet — which would mean it’s time to sell — it’s creeping into the neutral-to-high risk range, going over 0.3. That means prices are heating up, and the odds of getting in at a good value are shrinking. One thing keeping this from being a clear sell is the 30-day momentum, which is still positive. That’s the only reason we haven’t seen a red sell flag yet.

A full-on sell signal would need three things: RCV above +1, negative 30-day momentum, and a falling trend. So far, none of those have lined up. But traders are still being cautious. Smart investors aren’t jumping in like it’s January anymore. Instead, they’re watching for changes in the chart and thinking about locking in profits if the data starts flashing red.

The current phase is being described as risk-elevated but not overheated. The earlier accumulation zone — when Bitcoin was relatively cheap and the momentum was building — is over. Anyone still thinking about buying in should know they missed the low-risk opportunity. Right now, the data says to hold back, not go all in.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More