BlackRock's bitcoin ETF becomes fastest ever to hit $80 billion as BTC tops $118,000

With the price of bitcoin hitting new all-time highs over the past two days, BlackRock's market-leading spot bitcoin exchange-traded fund made history.

The iShares Bitcoin Trust (ticker IBIT) became the fastest ETF to cross $80 billion in assets under management. The fund achieved this milestone in just 374 days, which is five times faster than the previous record holder, the Vanguard S&P 500 ETF (VOO), which took 1,814 days, according to Bloomberg.

"Total assets for all the spot bitcoin ETFs crossed $140b for first time as well," Bloomberg senior ETF analyst Eric Balchunas said in a post on X. "They took in over $1b last night but it was really the big move up in price that is doing most of the heavy lifting here."

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Spot bitcoin ETFs recorded $1.18 billion in inflows on Thursday, their second-highest daily inflow since launching in January 2024. One day earlier, those funds had surpassed $50 billion in cumulative net inflows.

"We're seeing more companies, following Strategy's lead, incorporate bitcoin into their strategic asset allocation," said Min Jung, research analyst of Presto Research. "This broadening base of demand, combined with improved institutional accessibility since the ETF approvals, has helped propel bitcoin toward new all-time highs."

On Tuesday, bitcoin briefly hit a new all-time high of over $112,152, and has since ramped up. The world's leading cryptocurrency surpassed the $118,000 level earlier on Friday, which a Nansen analyst attributes to U.S. policy moves and expectations of monetary easing.

Bitcoin traded around $117,858.17 as of publication time, up 6% according to The Block's BTC price data.