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BlackRock spot Bitcoin ETF reaches over $10 billion in AUM

Only 152 ETFs traded in the US are part of the "$10 Billion Club", according to Bloomberg analyst Eric Balchunas.

BlackRock spot Bitcoin ETF reaches over $10 billion in AUM

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BlackRock’s spot Bitcoin exchange-traded fund (ETF) IBIT now holds over $10 billion in assets under management, according to Bloomberg ETF analyst Eric Balchunas. He highlighted that IBIT was the fastest ETF to surpass this threshold.

There are 152 ETFs, out of 3,400, in the “$10 Billion Club,” including IBIT and Grayscale’s GBTC. Balchunas explained to its followers on X that the first $10 billion is difficult to reach because most of the volume has to come from flows. “In IBIT’s case, 78% of AUM [assets under management] is flows.”

However, surpassing the $10 billion mark for the second time is easier, because “market appreciation is a bigger variable.”

On Feb. 29, the nine spot Bitcoin ETFs traded in the US, excluding GBTC, registered over $3 billion in trading volume. That’s the second-largest daily trading volume of the group, the largest being the previous day, when they registered $6 billion.

BlackRock spot Bitcoin ETF reaches over $10 billion in AUM
Trading volumes of spot Bitcoin ETFs in the US. Image: Bloomberg

BitMEX Research account on X shared that the ten spot Bitcoin ETFs in the US showed $92 million in positive flow on Feb. 29. In Bitcoin, the inflow amount was equivalent to over 1,503 BTC.

IBIT and GBTC offset each other’s flows yesterday, according to the post, with BlackRock’s ETF registering $600 million in inflows, while Grayscale’s registered the same amount in outflows.

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