BlackRock’s Bitcoin ETF Surpasses $17.7 Billion in Assets
BlackRock's Bitcoin exchange-traded fund (ETF) known as IBIT has rapidly amassed over 250,000 in assets under management (AUM), totaling approximately $17.7 billion, within just 11 weeks since its trading debut on January 11.
As of Tuesday’s latest fund disclosures, BlackRock’s Bitcoin ETF had already acquired 245,951 BTC. On Wednesday, an additional $323.8 million (4,702 BTC) in net inflows, according to BitMEX Research data, propelled IBIT past this significant milestone.
During an interview with Fox Business’ Charlie Gasparino and Liz Claman, BlackRock CEO Larry Fink remarked on IBIT’s remarkable growth, dubbing it the “fastest-growing ETF in the history of ETFs.” Fink also expressed surprise at the substantial rise in the value of Bitcoin.
In parallel, Fidelity’s Bitcoin ETF (FBTC) also saw significant growth, surpassing $10 billion in AUM, equivalent to more than 143,000 BTC
Ark Invest 21Shares’ ARKB experienced its most substantial daily inflows to date, alongside IBIT, with net inflows into spot Bitcoin ETFs rebounding on Wednesday, adding $243.4 million after a recent period of net outflows.
READ MORE: Bitcoin Halving: What It Means for Users and Adoption
Grayscale’s GBTC fund, in contrast, continued to experience significant outflows, shedding a further $299.8 million, bringing total outflows to $14.7 billion.
The U.S. spot Bitcoin ETFs maintained robust trading volumes on Wednesday, with BlackRock’s IBIT leading the pack. Cumulative trading volume for all spot Bitcoin ETFs now stands at $178 billion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
