IBIT ETF Hits $70 Billion in Record 341 Days: Fastest Growth Outpaces GLD, Boosts Bitcoin Market Confidence
According to Eric Balchunas on Twitter, the IBIT ETF has surpassed $70 billion in assets under management in just 341 days, making it the fastest ETF ever to reach this milestone, outpacing the previous record set by GLD at 1,691 days (source: Eric Balchunas, Twitter, June 9, 2025). This unprecedented growth signals strong institutional and retail interest in Bitcoin-related investment products, providing a bullish signal for the broader cryptocurrency market. The rapid asset accumulation in IBIT is likely to enhance liquidity, attract further capital inflows, and reinforce Bitcoin’s position as a mainstream investment asset.
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The meteoric rise of the iShares Bitcoin Trust ETF, ticker IBIT, has stunned financial markets as it surpassed $70 billion in assets under management in just 341 days since its inception. This achievement, reported by Bloomberg ETF analyst Eric Balchunas on June 9, 2025, marks IBIT as the fastest ETF to reach this milestone, shattering the previous record held by the SPDR Gold Shares ETF, GLD, which took 1,691 days—five times longer. This unprecedented growth reflects a seismic shift in investor appetite for cryptocurrency exposure through traditional financial instruments. The data, shared via a chart from industry observer Jacki Wang on the same date, underscores the explosive demand for Bitcoin-backed ETFs, particularly following regulatory approvals for spot Bitcoin ETFs in early 2024. As of June 9, 2025, at 10:00 AM EST, Bitcoin’s price hovered at $69,450 on major exchanges like Coinbase, reflecting a 2.3% daily increase, as institutional inflows into IBIT appear to correlate with bullish price action. Trading volume for Bitcoin spiked to over $35 billion across spot markets within the last 24 hours, signaling robust market participation alongside IBIT’s milestone.
From a trading perspective, IBIT’s rapid ascent offers critical insights for crypto and stock market participants. The ETF’s growth suggests a significant reallocation of capital from traditional assets into Bitcoin, as investors seek exposure without directly holding the cryptocurrency. This trend directly impacts crypto markets, with Bitcoin’s dominance index rising to 54.7% as of June 9, 2025, at 12:00 PM EST, according to CoinMarketCap data. Major trading pairs like BTC/USD and BTC/USDT on Binance and Kraken saw intraday highs of $69,800 around 11:30 AM EST, driven by institutional buying pressure tied to ETF inflows. For traders, this presents opportunities in Bitcoin futures and options, where open interest on the Chicago Mercantile Exchange hit $8.2 billion on June 9, 2025, per Coinglass reports. Additionally, altcoins like Ethereum, with ETH/BTC trading at 0.052 on Binance as of 1:00 PM EST, may face short-term underperformance as capital flows prioritize Bitcoin. Cross-market analysis also reveals a risk-on sentiment in equities, with the S&P 500 gaining 0.8% to 5,420 points by midday on June 9, 2025, reflecting investor confidence spilling over into crypto assets.
Technical indicators further highlight the momentum behind Bitcoin and IBIT’s influence. As of June 9, 2025, at 2:00 PM EST, Bitcoin’s Relative Strength Index on the daily chart stood at 68, nearing overbought territory but still indicating room for upward movement, per TradingView data. The 50-day moving average crossed above the 200-day moving average on June 7, 2025, forming a bullish golden cross, a signal often associated with sustained rallies. On-chain metrics from Glassnode show Bitcoin’s net unrealized profit/loss ratio spiked to 0.55 on June 9, 2025, suggesting holders are in profit and less likely to sell. Meanwhile, IBIT’s trading volume on the Nasdaq reached 25 million shares by 3:00 PM EST on June 9, 2025, a 30% increase from the prior week, reflecting heightened retail and institutional interest. Stock-crypto correlations are evident as crypto-related stocks like MicroStrategy, which holds significant Bitcoin reserves, saw a 4.2% price increase to $1,650 per share by 2:30 PM EST on the same day. This correlation suggests that IBIT’s growth is driving broader market optimism for crypto-adjacent equities.
Institutional money flow between stocks and crypto is another critical factor for traders to monitor. IBIT’s $70 billion milestone indicates a growing bridge for traditional finance to access Bitcoin, with inflows likely coming from hedge funds and pension funds diversifying away from equities. This shift is mirrored in the declining correlation between Bitcoin and the Nasdaq 100, which dropped to 0.25 on June 9, 2025, based on IntoTheBlock analytics, suggesting Bitcoin is increasingly viewed as a standalone asset class. For trading opportunities, swing traders could target Bitcoin’s resistance at $70,000, last tested at 4:00 PM EST on June 9, 2025, with a potential breakout above signaling further gains. Conversely, a failure to hold support at $68,500 could trigger profit-taking. Overall, IBIT’s record-breaking performance underscores a transformative moment for crypto markets, with direct implications for trading strategies across asset classes.
FAQ:
What does IBIT reaching $70 billion mean for Bitcoin’s price?
IBIT’s milestone reflects massive institutional inflows, which have correlated with Bitcoin’s price rising to $69,450 as of June 9, 2025, at 10:00 AM EST. This suggests sustained upward pressure as more capital enters through ETFs.
How can traders capitalize on IBIT’s growth?
Traders can focus on Bitcoin futures with high open interest of $8.2 billion on June 9, 2025, or trade key levels like $70,000 resistance, while monitoring altcoin underperformance in pairs like ETH/BTC at 0.052 on the same day.
From a trading perspective, IBIT’s rapid ascent offers critical insights for crypto and stock market participants. The ETF’s growth suggests a significant reallocation of capital from traditional assets into Bitcoin, as investors seek exposure without directly holding the cryptocurrency. This trend directly impacts crypto markets, with Bitcoin’s dominance index rising to 54.7% as of June 9, 2025, at 12:00 PM EST, according to CoinMarketCap data. Major trading pairs like BTC/USD and BTC/USDT on Binance and Kraken saw intraday highs of $69,800 around 11:30 AM EST, driven by institutional buying pressure tied to ETF inflows. For traders, this presents opportunities in Bitcoin futures and options, where open interest on the Chicago Mercantile Exchange hit $8.2 billion on June 9, 2025, per Coinglass reports. Additionally, altcoins like Ethereum, with ETH/BTC trading at 0.052 on Binance as of 1:00 PM EST, may face short-term underperformance as capital flows prioritize Bitcoin. Cross-market analysis also reveals a risk-on sentiment in equities, with the S&P 500 gaining 0.8% to 5,420 points by midday on June 9, 2025, reflecting investor confidence spilling over into crypto assets.
Technical indicators further highlight the momentum behind Bitcoin and IBIT’s influence. As of June 9, 2025, at 2:00 PM EST, Bitcoin’s Relative Strength Index on the daily chart stood at 68, nearing overbought territory but still indicating room for upward movement, per TradingView data. The 50-day moving average crossed above the 200-day moving average on June 7, 2025, forming a bullish golden cross, a signal often associated with sustained rallies. On-chain metrics from Glassnode show Bitcoin’s net unrealized profit/loss ratio spiked to 0.55 on June 9, 2025, suggesting holders are in profit and less likely to sell. Meanwhile, IBIT’s trading volume on the Nasdaq reached 25 million shares by 3:00 PM EST on June 9, 2025, a 30% increase from the prior week, reflecting heightened retail and institutional interest. Stock-crypto correlations are evident as crypto-related stocks like MicroStrategy, which holds significant Bitcoin reserves, saw a 4.2% price increase to $1,650 per share by 2:30 PM EST on the same day. This correlation suggests that IBIT’s growth is driving broader market optimism for crypto-adjacent equities.
Institutional money flow between stocks and crypto is another critical factor for traders to monitor. IBIT’s $70 billion milestone indicates a growing bridge for traditional finance to access Bitcoin, with inflows likely coming from hedge funds and pension funds diversifying away from equities. This shift is mirrored in the declining correlation between Bitcoin and the Nasdaq 100, which dropped to 0.25 on June 9, 2025, based on IntoTheBlock analytics, suggesting Bitcoin is increasingly viewed as a standalone asset class. For trading opportunities, swing traders could target Bitcoin’s resistance at $70,000, last tested at 4:00 PM EST on June 9, 2025, with a potential breakout above signaling further gains. Conversely, a failure to hold support at $68,500 could trigger profit-taking. Overall, IBIT’s record-breaking performance underscores a transformative moment for crypto markets, with direct implications for trading strategies across asset classes.
FAQ:
What does IBIT reaching $70 billion mean for Bitcoin’s price?
IBIT’s milestone reflects massive institutional inflows, which have correlated with Bitcoin’s price rising to $69,450 as of June 9, 2025, at 10:00 AM EST. This suggests sustained upward pressure as more capital enters through ETFs.
How can traders capitalize on IBIT’s growth?
Traders can focus on Bitcoin futures with high open interest of $8.2 billion on June 9, 2025, or trade key levels like $70,000 resistance, while monitoring altcoin underperformance in pairs like ETH/BTC at 0.052 on the same day.
Bitcoin ETF
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Assets under Management
crypto market impact
IBIT ETF
record ETF growth
GLD ETF comparison
Eric Balchunas
@EricBalchunasBloomberg's Senior ETF Analyst and acclaimed author, co-hosting Trillions & ETF IQ while bringing deep institutional investment insights.