The crypto ETF market is rapidly evolving, with BlackRock’s iShares Bitcoin Trust (IBIT) setting a new industry record by surpassing $70 billion in assets under management in just 341 days. At the same time, analysts suggest that actively managed ETFs focused on meme coins such as Dogecoin, Shiba Inu, and Pepe may be on the horizon, reflecting growing interest in retail-driven digital assets.
BlackRock’s IBIT Becomes Fastest-Growing ETF in History as Assets Surpass $70 Billion
According to Bloomberg Senior ETF Analyst Eric Balchunas, the speed of IBIT’s ascent is unprecedented. “IBIT just blew through $70 billion and is now the fastest ETF to ever hit that mark in only 341 days, which is 5x faster than the old record held by GLD of 1,691 days,” Balchunas wrote in a June 9 post on X.
The comparison to GLD—the SPDR Gold Shares ETF—is especially telling. Launched in 2004, GLD was one of the most influential commodity-based ETFs of its time and became a benchmark for alternative assets in traditional financial markets. IBIT has now surpassed that legacy in record time, underscoring the accelerating institutional adoption of Bitcoin as a legitimate and investable asset class.
Dominating the Crypto ETF Landscape
BlackRock’s iShares Bitcoin Trust (IBIT) was part of a wave of spot Bitcoin ETFs approved by the US Securities and Exchange Commission (SEC) in January 2024. While the initial greenlighting of multiple products ushered in fierce competition, it quickly became clear that BlackRock’s offering was capturing the lion’s share of investor demand.
As of this week, IBIT manages over $70 billion in assets, more than double the AUM of its nearest competitor—Fidelity’s spot Bitcoin ETF—which currently sits at around $31 billion. That significant gap highlights BlackRock’s dominance in the space, driven by brand trust, distribution capabilities, and favorable market conditions for Bitcoin.
The fund has also shown consistent investor appetite, recently enjoying an unbroken 34-day streak of net inflows. This performance not only signals sustained interest in Bitcoin but also affirms BlackRock’s execution in bringing a product to market that aligns with the long-term interests of both retail and institutional investors.
IBIT’s explosive growth has mirrored Bitcoin’s resurgence in 2025, as the world’s leading cryptocurrency has seen a surge in demand following the fourth Bitcoin halving and continued concerns over fiat currency devaluation. The entry of a financial titan like BlackRock into the crypto arena has provided an additional layer of legitimacy to the digital asset sector, encouraging more traditional investors to gain exposure through regulated channels.
Many analysts see IBIT’s trajectory as part of a broader structural shift in financial markets, where Bitcoin is increasingly viewed not just as a speculative asset, but as a viable component in diversified investment portfolios. The fund’s success may also accelerate similar offerings for other digital assets, potentially opening the door for Ethereum spot ETFs, or even niche products tied to Solana, Avalanche, or other blockchain ecosystems.
Furthermore, the performance of IBIT is likely to be cited in future lobbying efforts aimed at pushing for clearer crypto regulations. Its success serves as empirical evidence that well-structured, transparent digital asset investment vehicles can thrive within the US financial system.
Challenges and the Road Ahead
Despite its meteoric rise, IBIT—and by extension, Bitcoin ETFs—still face regulatory and market-related headwinds. US regulators remain cautious about potential market manipulation, custody solutions, and systemic risks. Moreover, Bitcoin’s price volatility means that while inflows may be steady now, they could reverse sharply in the event of a significant downturn in crypto prices.
Still, the success of IBIT is a powerful signal that investor demand for digital asset exposure is not a passing trend, but a long-term evolution in capital allocation. With BlackRock at the helm and an established distribution network spanning financial advisors, wealth managers, and institutional desks, IBIT appears well-positioned to continue its dominance.
As Bitcoin continues to assert its role as a macro asset in the eyes of institutional investors, the precedent set by IBIT may serve as a roadmap for the next generation of digital financial products.
Actively Managed Meme Coin ETFs May Be Closer Than You Think, Says Bloomberg Analyst
In related news, according to Balchunas, there is a “really good chance” that a meme coin ETF will be launched in the near future—potentially as soon as 2026. In a June 7 post on X, Balchunas laid out his forecast, saying the market should first expect a series of actively managed crypto ETFs, which will likely be followed by one that specifically targets the volatile and fast-moving world of meme coins.
Unlike traditional ETFs, which passively track a single asset or a fixed index, an actively managed meme coin ETF would take a dynamic approach. Such a fund would be curated and frequently rebalanced by a portfolio manager who makes real-time decisions about which tokens to buy, hold, or sell based on their performance and potential upside.
This approach resonates with the fast-paced nature of the meme coin market, where trends and sentiment shift rapidly, and the next “hot” token can rise—or collapse—overnight. A team behind the Russia-themed Vladcoin meme coin advocated for exactly this structure, noting in a post that an ideal fund would "hold the promising ones and sell off the weaker ones."
Retail-Driven Market With Growing Capitalization
Meme coins have seen an explosion in popularity in 2025, largely fueled by a new wave of retail investors attracted by their viral potential, social media buzz, and extreme short-term gains. Tokens like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and Trump (TRUMP) have become household names in the crypto community—despite their often thin technical use cases.
At its peak earlier this year, the total market capitalization of meme coins surged past $60 billion, riding on speculative fervor and political memes. While the market has cooled since the January highs, the sector’s influence remains significant, especially among younger, digitally native traders.
Meme coin market cap (Source: CoinMarketCap)
Still, any path toward an active meme coin ETF must first navigate regulatory approval—an area where the US Securities and Exchange Commission (SEC) has historically dragged its feet. Balchunas noted that most tokens must first be excluded from the 1933 Securities Act to be eligible for inclusion in an active ETF, making the regulatory structure a key bottleneck.
Nevertheless, momentum is building. Several firms—including Grayscale, Bitwise, and 21Shares—have filed for spot Dogecoin ETFs in 2025. Smaller issuers like Osprey Funds and Rex Shares have submitted even bolder filings, aiming to list ETFs tracking TRUMP, BONK, and other politically or culturally charged tokens.
“The Dogecoin ETF filing will tell us a lot,” said Balchunas, suggesting that DOGE may become the litmus test for broader meme coin ETF acceptance. While he previously estimated a 75% chance of SEC approval for a Dogecoin ETF this year, that optimism has waned. On blockchain-based prediction platform Polymarket, odds for such approval have dropped to 44% as of June.
Boom, Bust, and the Next Wave
The meme coin market has experienced dramatic whiplash in recent months. Following an epic bull run that peaked in January, many top tokens have seen their prices collapse by more than 70%. Dogecoin is down approximately 75% from its highs, while Shiba Inu has lost 85%. TRUMP, once boosted by claims of future acquisition by the Trump family-linked World Liberty Financial, is now down 86% from its all-time high.
The sector’s volatility presents both risk and opportunity, precisely the kind of environment where an active fund could outperform. Rather than passively holding declining assets, an actively managed ETF could theoretically pivot quickly between outperformers and underperformers, preserving capital during downturns and riding momentum during rallies.
More than 70 crypto ETF applications are still awaiting a decision from the SEC this year, according to Bloomberg data. While most of the attention has been on Bitcoin and Ethereum-based products, the potential emergence of meme coin ETFs adds an unpredictable but fascinating new layer to the evolving crypto investment landscape.
For now, the idea of a meme coin ETF still feels slightly surreal—a far cry from the days when Bitcoin itself was dismissed as a “fraud” by mainstream finance. But if history is any guide, today’s internet joke could be tomorrow’s Wall Street product. And if market sentiment, social momentum, and ETF industry trends continue on their current trajectory, a memecoin ETF—especially an actively managed one—may soon become reality.
