BlackRock’s IBIT ETF could hit $100 billion in assets this month, driven by institutional flows and Bitcoin's rise.

Eric Balchunas is tipping BlackRock's Bitcoin ETF to clinch $100B in assets under management before the end of the July.

Bitcoin has surged over 25% year-to-date, reaching record highs above $122,000, fueled by massive inflows from Wall Street, including $85 billion from new Bitcoin ETFs over the last year or so. The influx of traditional capital is also reducing Bitcoin’s volatility. The declining value of the U.S. dollar is helping too.

BlackRock’s iShares Bitcoin Trust (IBIT) became the fastest ETF in history to reach $80 billion in assets under management.

The SEC has extended the deadline to Aug. 26 for BlackRock's in-kind redemption request. - Multiple crypto ETF issuers face similar delays, including Fidelity, VanEck and WisdomTree. - The regulatory agency used its maximum 90-day review period for the iShares Ethereum Trust proposal.

Not only would BlackRock's Bitcoin ETF more closely resemble a true spot ETF, but it also looks to have hammered out solutions to the SEC's concerns over investor protection.

Three firms manage more than 85% of all crypto ETF assets under management, totaling approximately $123 billion.

Key Takeaways Bitcoin price drops to $117,384 after briefly crossing $120,000, with market cap at $2.34 trillion.Ethereum ETF inflows total $259 million on July