All articles tagged with #ibit
BlackRock’s IBIT Bitcoin ETF became the fastest to surpass $70 billion in assets, reaching this milestone in just 341 days, making it the largest institutional Bitcoin holder with over 661,000 BTC. The ETF's rapid growth reflects strong market confidence and increasing institutional adoption, with notable investments and institutional interest, positioning it as a dominant player in the crypto investment space.
BlackRock’s iShares Bitcoin Trust (IBIT) became the fastest ETF to reach $70 billion in assets, achieving this milestone in just 341 days, significantly faster than previous records, and solidifying its position as the largest Bitcoin ETF on the market amid growing investor demand for cryptocurrency exposure.
BlackRock's iShares Bitcoin ETF (IBIT) acquired a record 12,600 bitcoin worth over $778 million on Tuesday, surpassing previous daily highs and recording trading volumes of more than 107 million shares. The big inflows came as bitcoin hit a new all-time high of $69,000 before sharply reversing, prompting a modest recovery to the $63,000 area late in the U.S. trading day. The BlackRock ETF now holds more than 183,000 bitcoin, making it the most popular bitcoin ETF with assets under management of about $12 billion, followed by Fidelity’s FBTC at $7.2 billion. Overall, ETF volumes broke the $10 billion mark, with bitcoin trading just under $66,000 as of U.S. morning hours on Wednesday.
BlackRock has made key changes to its iShares Bitcoin Trust ahead of its expected launch. The asset manager has chosen a new ticker, IBIT, for the ETF and the filing now reveals that the ETF will be cash-only, meaning new shares can only be created with cash, not Bitcoin. This change was likely made to address SEC concerns about in-kind creation, which would have allowed registered brokers to use Bitcoin. The move suggests that BlackRock is moving closer to obtaining approval for the first Bitcoin ETF in the US.