BlackRock’s Bitcoin ETF Surges to $30 Billion in Record Time, Fueling Market Optimism
In less than ten months, BlackRock's spot Bitcoin exchange-traded fund (ETF) has surpassed $30 billion in holdings, highlighting soaring institutional interest in Bitcoin. Since its launch on January 10, BlackRock’s Bitcoin ETF has swiftly amassed over 417,000 BTC, valued at $30.4 billion, solidifying the firm’s status as a top institutional player in the crypto space.
Demand for Bitcoin ETFs has surged, especially with the upcoming U.S. presidential election on November 5. On October 29 alone, net inflows reached $870 million—the second-highest after a record-breaking $1 billion in March. This rapid growth has set a record for ETFs, with BlackRock's ETF hitting this benchmark in just 293 days, noted Bloomberg analyst Eric Balchunas.
As cumulative holdings across U.S. spot Bitcoin ETFs near 1 million BTC, valued around $71.7 billion, analysts are divided on the effects. While some expect Bitcoin to push toward $80,000 by year-end, others view the surge as speculative—a hedge against economic uncertainty. With potential to surpass Satoshi Nakamoto's holdings by November, Bitcoin ETFs are shaping up as a key force in the market, potentially setting new price records amidst rising global interest in digital assets.