IBIT, Bitcoin ETF From BlackRock Capai Assets Worth IDR 792 Trillion

IBIT, Bitcoin ETF from BlackRock achieved assets worth IDR 792 trillion (Photo; Doc. Coinmarketcap)

JAKARTA - In less than a year, the Bitcoin exchange-traded fund (ETF) of BlackRock, namely the iShares Bitcoin Trust (IBIT), scored an extraordinary achievement with an asset value of up to 50 billion US Dollars (approximately IDR 792 trillion). This achievement made IBIT the fastest-growing ETF in history, surpassing traditional ETFs such as iShares Core Core MSCI EAFE which took more than three years to reach that figure.

This big leap cannot be separated from the increasing participation of institutional investors, who now have easier access to Bitcoin thanks to ETFs like IBIT. With a simpler system, investors can avoid technical complexities such as storage and security of crypto assets, simply by buying ETF shares that reflect on the price of Bitcoin.

BlackRock, the world's largest investment company, is now a key player in the Bitcoin ETF market. According to the latest data, the ETF has attracted net inflows of up to 125 million US Dollars (around Rp1.9 trillion) in one trading day, confirming market dominance with a share of 37.4% of the total Bitcoin ETF trading volume in the US. This surge is also supported by optimistic market sentiment following the approval of the Bitcoin spot ETF by the US Securities and Exchange Commission (SEC), which is considered a turning point for crypto regulation in the United States.

The strengthening of Bitcoin ETF is also supported by political changes in the US. With the new government expected to be more crypto-friendly, as well as policies such as the potential for national Bitcoin reserves, analysts predict more supportive regulations will further encourage institutional adoption. Not only that, Bitcoin ETF now has a combined asset of nearly 300,000 BTC (equivalent to IDR 217 trillion), approaching the amount of Bitcoin its creator, Satoshi Nakamoto.

IBIT's success also places Bitcoin as an asset that is more in demand than gold, which was previously a mainstay as a'safe haven'. In fact, this ETF managed to surpass BlackRock's gold ETF in terms of asset growth in governance. This reflects the shift in investor preferences, especially the younger generation and institutions that want exposure to digital assets with clearer regulations.

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