BlackRock’s Bitcoin ETF Is Set to Be the Biggest Globally in a Decade, According to Michael Saylor.

U.S. spot Bitcoin (BTC) ETFs have pulled in approximately $2.8 billion in net inflows over the past five trading days, helping propel Bitcoin’s price from around $85,000 to $94,000. The iShares Bitcoin Trust (IBIT) led the surge, accounting for $1.3 billion of the total inflows.

Michael Saylor, Chairman of MicroStrategy (MSTR) — the largest publicly traded corporate holder of Bitcoin — said during Bitcoin Standard Corporation’s Investor Day that “IBIT will be the biggest ETF in the world within ten years.”

Currently, IBIT boasts a market capitalization of $54 billion, with over $1.5 billion in trading volume recorded on Thursday alone. By comparison, the Vanguard S&P 500 ETF (VOO), the world’s largest ETF by market cap, stands at $593.5 billion — more than ten times larger than IBIT.

Eric Balchunas, Senior ETF Analyst at Bloomberg, acknowledged the potential for IBIT to eventually overtake VOO but cautioned that it would require extraordinary market conditions.
“It’s possible, especially if IBIT starts pulling in more cash than VOO,” Balchunas said. “But that would mean daily inflows north of $1 billion — ideally closer to $3 to $4 billion — to truly close the gap. Some extraordinary things would have to happen, but it’s not out of the question.”

At the same time, the annualized basis trade for Bitcoin ETFs — a strategy where investors go long the ETF and short Bitcoin futures on the CME — has risen sharply to nearly 10%, up from around 5% earlier this month. A 2,000 BTC increase in futures open interest over the past week supports the idea that a portion of these ETF inflows may be driven by basis trading strategies rather than straightforward bullish positioning.