BlackRock’s spot Bitcoin ETF becomes fastest to hit $70 billion, crushing gold's previous record

BlackRock's spot Bitcoin ETF made history again Monday.

The firm’s bitcoin-based IBIT fund, the largest of its kind, surpassed $70 billion in assets in just 341 days of trading, making it the fastest ETF to reach that milestone, according to Bloomberg Senior ETF Analyst Eric Balchunas.

"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," Balchunas posted to X Monday. 

With more than $70 billion in assets, BlackRock’s bitcoin ETF is by far the most popular among similar funds that track the cryptocurrency’s price. Fidelity’s spot Bitcoin ETF is a distant second, with about $31 billion in assets, according to The Block Data Dashboard. IBIT recently saw a 34-day streak of inflows.

The GLD exchange-traded fund, also known as SPDR Gold Shares, allows investors to bet on the price of gold without having to physically purchase it. It was first listed on the New York Stock Exchange in November of 2004, according to its website .  It is the "largest physically backed gold exchange-traded fund in the world," the site also said. The fund has about $100 billion in AUM.

Both the price of gold and bitcoin have performed well this year amid economic uncertainty brought on, in part, by President Donald Trump's tariff strategy. 

BlackRock launched its spot Bitcoin ETF in January 2024. In April, BlackRock’s fund held 2.8% of the entire BTC supply, according to Arkham Intelligence. The asset manager holds the Bitcoin on behalf of its clients, but does not own the cryptocurrency itself.