CoinDesk
BlackRock's spot Bitcoin ETF, IBIT, traded 439.5 million shares last week, a record for any positive week since the fund's January 2024 debut, as Bitcoin rallied 23%. Robbie Mitchnick, BlackRock's head of digital assets, told CNBC that the macro backdrop, particularly U.S. debt and deficit concerns, is strengthening the case for Bitcoin as an emerging store of value alongside gold. The fund pulled $1.33 billion in net inflows for the week and $2.64 billion so far this month, the strongest monthly haul since October 2025.
Why it matters
Mitchnick's framing is unusually direct for an executive at the world's largest asset manager. He pointed to equities lagging both Bitcoin and gold and to choppy fixed-income markets as evidence of Bitcoin's distinct appeal at a moment when fiscal sustainability is back in the headlines. The dollar-and-deficit argument is the same one hard-asset bulls have made for a decade, but it now has an institutional mouthpiece that issues the world's largest spot Bitcoin ETF.
Market impact
The volume figure is the read traders will quote. 439.5 million IBIT shares traded during a 23% rally is conviction buying, not profit-taking. The all-time record of 700 million shares in the week ended Feb. 6 happened during a crash, when BTC fell to nearly $60,000. IBIT itself closed at $43.68, up 22.59% on the week and its best performance since February 2024. Cumulative AUM since launch stands at $63 billion, and the monthly inflow pace is the strongest in roughly 18 months.
Frequently asked questions
-
What did BlackRock's Mitchnick say about Bitcoin's macro case?
Mitchnick told CNBC that U.S. debt and deficit concerns are strengthening Bitcoin's appeal as an emerging store of value alongside gold, especially as equities lag Bitcoin and gold and fixed-income markets stay choppy.
-
How much did IBIT trade last week?
IBIT traded 439.5 million shares last week, a record for any positive week since the fund's January 2024 debut, while the share price gained 22.59% to $43.68.
-
How much in net inflows did IBIT see?
IBIT booked $1.33 billion in net inflows for the week and $2.64 billion so far this month, the strongest monthly haul since October 2025.
-
How does this week's record compare to the all-time IBIT volume high?
The all-time IBIT volume record remains more than 700 million shares in the week ended Feb. 6, 2024, set during a crash when BTC plunged to nearly $60,000. Last week's record happened during a 23% rally instead.
-
How large is IBIT in total?
IBIT has attracted roughly $63 billion in investor capital since its January 2024 launch, making it the world's largest spot Bitcoin ETF.
CryptoSlate
CoinTelegraph
Crypto News
Glassnode
Lookonchain
TheBlock
WuBlockchain