iShares Bitcoin Trust (IBIT), the Bitcoin (BTC) exchange-traded fund (ETF) managed by BlackRock, has established itself as the company’s biggest return-producing fund, a fact that even its board members are surprised by.
Cristiano Castro, Director of Business Development at BlackRock Brazil, said: IBIT’s results exceeded the company’s most optimistic expectations.
Since its founding in January 2024, IBIT has shown exceptional performance, a phenomenon Castro described as unexpected, noting that capital allocation approached $100 billion.
This dizzying growth has helped IBIT establish itself as the world’s largest Bitcoin ETF in just five months, as reported by CriptoNoticias.
Despite recent Bitcoin price fluctuations, the IBIT fund has maintained its momentum, confirming strong demand from institutional investors. at the moment, This ETF manages 776,474 BTC, worth approximately $70.7 billion. It accounts for more than 3% of the total supply of crypto assets.
This success is primarily due to BlackRock’s strong global distribution network and institutional interest driven by regulatory approval of the Spot Bitcoin ETF in the United States.
Regarding recent capital outflows observed at IBIT that coincided with Bitcoin price corrections, BlackRock’s managers said that ETFs are “highly liquid and powerful” products that are precisely designed to help investors allocate capital and manage cash flow efficiently, adding that these movements are inherent to the nature of the product.
