Bitcoin ETF IBIT Nears $100 Billion In AUM, Joining The ETF Elite

The iShares Bitcoin Trust ETF (IBIT) is on the verge of a historic milestone: $100 billion in assets under management. 

As of Monday, the fund’s AUM stood at $99.4 billion, putting it within striking distance of joining the tiny group of ETFs that have ever crossed that elite tier.

Since its launch on January 11, 2024, IBIT has smashed one record after another—passing $20 billion, $50 billion, and $80 billion in rapid succession—on its way to becoming the fastest-growing ETF in history. 

If IBIT crosses the $100 billion mark, it will do so in record time, well ahead of the eight years it took the Vanguard S&P 500 ETF (VOO) to reach that milestone. It would also be rarefied air. Only 18 U.S.-listed ETFs currently manage more than $100 billion.


Source: Bloomberg

Dominating The Crypto ETF Market

IBIT now accounts for roughly half of all assets in the U.S. spot crypto ETF category. Its nearest competitors, the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Trust ETF (GBTC), hold $26.1 billion and $22.2 billion in AUM, respectively.

But while IBIT’s momentum continues to build, rival funds have seen far less enthusiasm from investors. IBIT has pulled in $26.4 billion so far in 2025, while FBTC has gathered just $1 billion and GBTC has suffered $2.6 billion of outflows.

IBIT and its Ethereum counterpart, the iShares Ethereum Trust ETF (ETHA), have together attracted nearly $38 billion of inflows this year—virtually the entire total for spot crypto ETFs. The pair have quickly become the default vehicles for investors seeking crypto exposure in an ETF wrapper.

Riding Bitcoin’s Rally

IBIT’s asset surge has been fueled not just by inflows but by the relentless rally in Bitcoin itself. The cryptocurrency recently topped $125,000 for the first time ever and is up roughly 160% since IBIT’s launch. About two-thirds of IBIT’s asset growth has come from inflows, with the rest from price appreciation.

As IBIT’s footprint grows, it’s increasingly becoming a driving force in Bitcoin itself, with inflows large enough to influence price moves and market sentiment.

At just under $100 billion in AUM, IBIT represents about 4.2% of Bitcoin’s $2.4 trillion market cap. Given how easy and familiar ETFs have made crypto investing, IBIT’s share of the Bitcoin market could keep rising.

To put its potential in perspective, if Bitcoin’s market cap reached $3 trillion and IBIT accounted for 10% of it, the fund would be $300 billion in size. A 20% share of a $5 trillion market would imply $1 trillion in AUM.

Those scenarios are far from guaranteed, but they show just how large IBIT could become if Bitcoin demand keeps expanding.