$IBIT $FBTC $GBTC
#BlackRock #BitcoinETF #CryptoInvestment #IBIT #FBTC #GBTC #Cryptocurrency #Bitcoin #ETFs
BlackRock’s Bitcoin ETF Sets Record with $70 Billion AUM
In an unprecedented achievement in the financial sector, BlackRock’s news about its iShares Bitcoin Trust (IBIT) has captured widespread attention. The fund rapidly amassed $70 billion in assets, becoming the fastest ETF to reach this milestone in history. Just 341 days post-launch, IBIT outperformed all expectations, securing assets five times quicker than the previous record-holder, State Street’s GLD gold ETF.
IBIT Leads Among Bitcoin ETFs
Among the twelve Bitcoin ETFs currently on the market, IBIT emerges as the frontrunner. It significantly overshadows its closest competitors, Fidelity’s FBTC and Grayscale’s GBTC, each holding about $20 billion in assets. The introduction of IBIT, along with ten other Bitcoin ETFs early last year, marked a pivotal moment, propelled by the SEC’s green light, reflecting strong investor interest in capitalizing on Bitcoin’s market movements. Impressively, IBIT gathered over $1 billion within just four days of its debut.
Rapid Growth and Market Dominance
By November, IBIT had already exceeded the total assets of BlackRock’s own gold fund, establishing it as the largest of the 1,400 funds managed globally by the asset manager. The momentum continued as IBIT set another record in December, becoming the quickest ETF to hit $50 billion in assets, a milestone it reached five times faster than BlackRock’s iShares Core MSCI EAFE ETF.
Unprecedented Pace in the ETF Space
“IBIT’s growth is unprecedented,” stated James Seyffart, a Bloomberg ETF expert, highlighting its rapid success outpacing any other ETF across all asset classes. With the surge in Bitcoin ETFs, the total net assets across all twelve Bitcoin ETFs exceeded $134 billion as Bitcoin prices soared, peaking at $111,900 recently.
Despite a brief market pullback with Bitcoin’s price testing major support levels, the leading cryptocurrency has rebounded, currently trading close to its peak. This resurgence underscores the ongoing bullish momentum and interest in Bitcoin and related ETFs.
For more detailed analyses and updates on ETFs, visit [Financier News](https://www.financier.news/). Those interested in the broader crypto market can find additional information and trading options on [Binance](https://www.binance.com/).
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