Michael Saylor Predicts BlackRocks IBIT Will Be The Worlds Biggest ETF In The Next Decade
Michael Saylor, the Executive Chairman of the worlds largest Bitcoin corporate holder Strategy, has predicted that in the next ten years, BlackRocks iShares Bitcoin Trust (IBIT), which launched in January 2024 alongside 10 other US-based spot Bitcoin ETFs, will become the largest ETF in the world.
BlackRocks Bitcoin ETF Accounts For Nearly 3% Of Entire BTC Supply
It might be pocket change when considering BlackRock currently boasts trillions of dollars in assets under management, but it hasnt gone unnoticed that the asset management giants Bitcoin ETF stash is closing in on 3% of Bitcoins total supply.
BlackRock is accumulating. They now hold 2.77% of the entire Bitcoin supply, Arkham Intelligence wrote to X on Friday, noting the Wall Street behemoth had added a staggering $1.2 billion in BTC this week alone.
As of April 26, BlackRock held approximately 582,000 BTC via IBIT, worth around $54 billion. That makes it the 33rd biggest exchange-traded fund by assets under management. In comparison, the largest ETF by market cap, the Vanguard S&P 500 ETF (VOO), boasts a market capitalization of $593.5 billion, more than ten times that of IBIT.
However, speaking at the Bitcoin Standard Corporations Investor Day, Strategys Michael Saylor forecasted that IBIT will be the biggest ETF in the world in ten years.
Bloombergs senior ETF analyst Eric Balchunas concurred with Saylor that IBIT could potentially become the worlds biggest ETF, though he stressed that it would be extraordinary.
Its possible, especially if IBIT starts taking in more cash than VOO, but that would require inflows well north of $1 billion a day more likely in the range of $3 to $4 billion daily, to gain ground. In short, some extraordinary things would have to happen, but its possible, Balchunas said.
Its pertinent to note that this is not Saylors first insanely optimistic Bitcoin-related prediction. As ZyCrypto reported previously, the tech entrepreneur said he thinks the crypto will rocket to a price of $13 million per coin over a 21-year period. Saylors company currently holds 538,200 BTC, worth roughly $51 billion.
Bitcoin recently changed hands at $94,969, up 1.5% over the past 24 hours. The largest cryptocurrency by market cap is up 13.5% over the past 14 days.
Text source: ZyCrypto
