BlackRock’s iShares Bitcoin Trust (ETF) Surpasses $20 Billion in Assets
BlackRock’s iShares Bitcoin Trust (IBIT) ETF has exceeded $20 billion in assets under management just six months after its launch. Nate Geraci, president of the ETF Store, stated that both individual and institutional investors are “clearly” participating actively, as evidenced by the recent surge in inflows.
On July 16, IBIT recorded $260 million in fresh inflows, while Fidelity Wise Origin Bitcoin Fund (FBTC) saw $61 million in inflows, coming in a distant second. Overall, spot Bitcoin ETF products experienced more than $422 million in inflows on Thursday.
Simultaneously, the price of Bitcoin has reclaimed the $66,000 level.
Launched in January alongside other competing products, BlackRock’s Bitcoin ETF quickly became successful, joining the $10 billion ETF club within seven weeks and breaking the long-time record held by the GDL fund.
As reported by U.Today, BlackRock CEO Larry Fink recently expressed his bullish views on Bitcoin, emphasizing its role in portfolios as a diversifying and hedging asset. He has frequently referred to Bitcoin as “digital gold.”
