BlackRock’s Bitcoin ETF Soars in October, Hits $30B AUM

• Bitcoin posted an 11% growth in October, with the second-highest monthly close ever at $70,200
• BlackRock’s IBIT ETF led the crypto ETF market, accumulating $4.6 billion in assets, reaching $30B in AUM
• ETF activity is reshaping Bitcoin’s investor landscape, highlighting surging interest in regulated crypto investment products

The month of October has come to an end, and Bitcoin shows its strength. With a net growth of 11%, BTC is approaching its ATH as the market watches. The monthly close is the second-highest ever, with a price of $70,200, surpassed only by the March 2024 close, when the price closed at $71,300, just $1,000 more than the current one.

Monthly volumes are huge. According to Coinmarketcap, Bitcoin trading volumes alone exceeded $1.25 trillion, almost equal to Bitcoin’s total market capitalization. About 80% of the volumes come from the derivatives market, while only about 20% relates to the SPOT market.

Bitcoin ETF volumes in October slightly exceeded $45 billion—a figure still far from total traded volume, but quickly scaling in comparison to SPOT market trades.

Buying Bitcoin Today Means Going Through BlackRock

In October, ETFs saw record-breaking figures. Over $5.4 billion were added to ETFs’ assets under management (AUM). The truly impressive figure is that nearly all of it, totaling $4.6 billion, entered the market via IBIT, BlackRock’s ETF, which currently holds over 433,000 Bitcoin under management.

Conclusion

Thus, with this AUM exceeding $30 billion, the IBIT ETF ranks among the global leaders. In the global ETF rankings dominated by SPY, the main ETF benchmark for the Standard & Poor’s 500 index, IBIT ranks 67th.

This figure highlights the importance the market and investors place on Bitcoin, positioning IBIT among the top global rankings.