BlackRock’s Michael Saylor made the prediction at the Bitcoin Standard Corporations Investor Day, held in New York. U.S. Bitcoin spot ETFs saw net inflows of $442m on Thursday. Bitcoin then surpassed $95,000.
IBIT, which currently manages $54.2 billion in assets, would need to surpass the Vanguard S&P 500 ETF (VOO), which holds approximately $573.5 billion. BlackRock ETF showed remarkable growth, with $1.16bn in Bitcoin sales over three days. $193.5m on April 22, $643.20m on April 23 and $327.3m on April 24, BlackRock ETF accumulated $1.16bn.
“IBIT will be the biggest ETF in the world in ten years,” Saylor During his presentation, he said. The ETF has already shown unprecedented growth, reaching $10 billion in assets within seven weeks of its January launch – the fastest growth rate for any ETF in history.
Bloomberg ETF analyst Eric Balchunas acknowledged the possibility It was a very unusual situation. It’s possible that IBIT will start taking in more money than VOO, but at the moment, this would require taking in much higher amounts of cash, such as $3b to $4b/day.” Balchunas noted.
The surge in ETF interest coincides with Bitcoin’s break above $95,000, supported by multiple factors including President Trump’s signals on reducing Chinese import tariffs, new SEC Chairman Paul Atkins’ pro-crypto stance, and expectations of Federal Reserve rate cuts in mid-2025.
U.S. spot Bitcoin ETFs have now accumulated over $37 billion in total net inflows since their January launch, with combined assets under management exceeding $100 billion. IBIT leads the pack, recently winning “The etf.com Awards presented the “Best New ETF”.
BlackRock’s aggressive strategy of accumulation suggests that Bitcoin’s value is growing.
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Source: bitcoinmagazine.com
