TL;DR:
- BlackRock’s IBIT ETF maintains $60 billion in assets after just 500 days of history.
- 94% of Bitcoin ETF investors have chosen to hold their positions despite a 40% price drop.
- Changpeng Zhao (CZ) quipped about Bloomberg’s shifting narrative regarding Bitcoin’s survival.
The crypto sector has been hit hard by recent volatility; however, Bloomberg analyst Eric Balchunas asserts in his latest report that interest in Bitcoin ETFs remains historically solid. The analyst revealed that BlackRock’s iShares Bitcoin Trust (IBIT) currently manages approximately $60 billion—a figure he describes as “extraordinary” for a product with barely 500 days of track record.
This institutional capital behavior suggests a long-term vision that contrasts sharply with the panic seen in previous cycles. Consequently, the fact that the fund retains such a magnitude of assets positions it as the fastest ETF in history to reach these capitalization levels, even after retracing from its $100 billion peak.
Furthermore, the analyst highlights that only 6% of total assets have exited these financial products, meaning that 94% of investors did not sell. This is particularly significant considering that many are currently in a loss zone following the 40% correction in the underlying asset’s price.
CZ’s Reaction to Bloomberg’s Shifting Narrative
In analytical terms, the landscape has taken such a positive turn that even Changpeng Zhao (CZ) took to social media to comment. The Binance founder expressed his surprise at Bloomberg’s objective remarks, admitting he expected the classic headlines declaring “Bitcoin is dead”—a recurring trope in the mainstream financial press during bear markets.
CZ’s response underscores how ETF integration has changed Wall Street’s perception of Bitcoin, moving from being seen as a speculative asset to one with a resilient investor base. Moreover, the loyalty of IBIT holders reinforces the thesis that the institutional market is here to stay, regardless of short-term fluctuations.
In summary, the robustness of asset management data demonstrates that the ecosystem has matured significantly. The industry remains watchful to see if this stability in ETF holdings will serve as a floor for a future recovery, thereby validating the confidence of the vast majority of investors who decided to stay in position during the storm.
