According to Eric Balchunas, $IBIT achieved a $50 billion market cap in its first year, a milestone that took $VOO six years to reach. This indicates $IBIT as an ETF to watch for traders. However, Balchunas notes that for $IBIT to continue its growth, it requires increased adoption flows and a reduction in its correlation with stock market trends. He cautions that Bitcoin often declines when stocks do, which could pose a challenge for $IBIT's future growth.