BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

2024-10-31 17:50

BlackRock takes the lead reaching $30 billion in 293 days. JEPI took 1,272 days and Gold managed it in 1,790 days Spot Bitcoin ETFs could reach one million Bitcoin, surpassing Satoshi Nakamoto by mid-December

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has hit $30 billion in assets setting a new record of 293 days, showcasing rising interest in crypto investments.

The milestone from BlackRock comes 10 months after the company launched its spot Bitcoin ETF in January. Then, it was reported that BlackRock had traded $7.5 million shares within the first 10 minutes of launching.

Now, BlackRock holds more than 417,000 Bitcoin, valued at $30.4 billion, according to iShares data.

Taking to X, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

Also $IBIT has crossed the $30 billion mark in assets after monster flows and price appreciation yesterday. It hit this milestone in just 293 days, an all time record. The old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal… pic.twitter.com/rUskhqhW7b

— Eric Balchunas (@EricBalchunas) October 30, 2024

Balchunas also noted that Bitcoin ETFs could reach one million Bitcoin soon. At the time of publishing, the number sits around 983,000. If such a milestone is reached Balchunas believes that the combined spot Bitcoin ETFs could surpass Satoshi Nakamoto’s wallet, which holds 1.1 Bitcoin, by mid-December.

“That said, anything can happen, eg a violent selloff and all this is delayed albeit still inevitable,” he added. “On flip, if prices keep going up, Trump wins, we could see FOMO could kick in and it all happens faster. Stay tuned.”

COUNTDOWN: US spot ETFs are scheduled to hit 1 million bitcoin held by next Wed and pass Satoshi by mid-December (before their first birthday, amazing). They've been adding about 17k btc a week. That said, anything can happen, eg a violent selloff and all this is delayed albeit… pic.twitter.com/lsU1xSP2Zd

— Eric Balchunas (@EricBalchunas) October 29, 2024

Decentralized prediction market platform, Polymarket, and, more recently, Robinhood, an investment app, have launched data predicting who will win the US Presidential election on November 5.

At the time of publishing, Polymarket shows former US president Donald Trump in the lead at 67% with Vice President Kamala Harris behind at 33.1%.

The post BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days appeared first on CoinJournal.

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