BlackRock’s iShares Bitcoin Trust ETF saw a surge in bitcoin inflows, exceeding $1.3 billion.
BlackRock has acquired more than 33,000 Bitcoins since the spot Bitcoin ETF was approved.
BlackRock becomes the first company to surpass $1 billion in assets under management for a Bitcoin ETF.
BlackRock has achieved a new milestone in the cryptocurrency market, with net Bitcoin inflows exceeding $1.3 billion. BlackRock’s iShares Bitcoin Trust (IBIT) is quickly becoming popular with investors as investments in Bitcoin surge following the approval of a spot Bitcoin ETF. In just 10 days after the ETF was approved, the company has managed to acquire approximately 33,430 Bitcoins worth approximately $1.346 billion.
Spot Bitcoin ETF Approved: Catalyst for BlackRock
The U.S. Securities and Exchange Commission’s (SEC) approval of a Bitcoin ETF marks a major turning point for BlackRock. The company’s iShares Bitcoin Trust began trading on January 12, 2024, and quickly attracted significant investment, with assets under management (AUM) crossing the $1 billion threshold in its first week. Robert Mitchnick, BlackRock’s head of digital assets, expressed excitement about the achievement and emphasized the firm’s long-term commitment to providing investors with quality ETF options.
BlackRock leads the new ETF landscape
A Bloomberg report highlighted BlackRock's pioneering role in the new ETF space, being the first firm to cross the $1 billion AUM mark. This achievement is the result of $371 million in community investment. ETF strategist Todd Sohn noted BlackRock's positive trajectory in the ETF market, attributing it to the firm's broad resources and serious commitment to ETFs as a viable asset class.
Key Statistics for the BlackRock Bitcoin ETF
As of January 19, 2024, the BlackRock iShares Bitcoin Trust had net assets of approximately $1.199 billion. Launched on January 5, 2024, the fund trades on Nasdaq and tracks the CME CF Bitcoin Reference Rate. Notable statistics include a float of over 50 million shares, daily trading volume of approximately 18 million shares, and a 30-day average trading volume of over 20 million shares. As of the same date, the ETF's basket amounted to approximately $954,841.40, with a closing price of $23.80 per share.
What’s ahead for BlackRock’s Bitcoin ETF
The rapid growth and success of the BlackRock iShares Bitcoin Trust ETF demonstrates the growing interest and confidence among mainstream investors in cryptocurrency investing. The fund’s performance and increase in assets under management reflect the Bitcoin ETF’s potential to attract significant capital and provide easier access to investment in the cryptocurrency market.
in conclusion
All told, BlackRock’s iShares Bitcoin Trust ETF set a new standard for the Bitcoin ETF market, with record inflows of more than $1.3 billion. The success of the spot Bitcoin ETF’s approval highlights the increasing integration of cryptocurrencies into traditional investment portfolios and BlackRock’s leading role in this evolving landscape. Click on my profile picture to get free skirt.
