Key Points:
Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
In a remarkable surge, BlackRock spot Bitcoin ETF saw a staggering $493 million influx in a single day, boosting its assets under management to $5.1 billion. This surge came alongside the revelation that BlackRock spot Bitcoin ETF now oversees more than 100,000 BTC, reaching a total of 105,280 BTC by February 13th.
Eric Balchunas, an ETF expert at Bloomberg, noted the exceptional performance of BlackRock spot Bitcoin ETF, breaking weekly volume records with an average of $760 million per day. This remarkable volume not only showcases the strength of IBIT but also serves as a predictor of inflows for newly established ETFs.
BlackRock’s aggressive foray into Bitcoin began with the launch of its spot Bitcoin ETF on January 11, 2024, alongside ten other issuers. Fidelity and BlackRock continues to dominate the ETF race, outpacing seven other competitors in terms of assets under management.
In the midst of this competition, Grayscale’s Bitcoin Trust (GBTC) stands out with over $22.9 billion in assets. Formerly operating as a closed-end fund, GBTC transitioned into an ETF in January, offering users greater flexibility in redeeming shares.
BlackRock’s substantial investment in Bitcoin, coupled with the impressive growth of IBIT, underscores the increasing mainstream acceptance and adoption of cryptocurrency within the financial industry. As institutional giants like BlackRock continue to embrace digital assets, the cryptocurrency market is poised for further expansion and integration into traditional investment portfolios.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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