BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed the milestone of $70 billion in assets under management, making it the fastest ETF ever to reach this point. According to Bloomberg analyst Eric Balchunas, IBIT took only 341 trading days to hit this mark, a five-fold faster record compared to the previous benchmark held by the SPDR Gold Shares ETF (GLD), which reached $70 billion in AUM after 1,691 days. BlackRock’s official website states that IBIT currently holds $71.8 billion in assets and has accumulated 661,457 BTC as of June 6th. Balchunas highlighted on Twitter that this significant achievement is fueled by institutional investors who are driving the demand for Bitcoin.