BlackRock’s spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has achieved a significant milestone by surpassing $1 billion in assets under management (AUM) within its first week of trading.
This makes it the first among the recently launched Bitcoin ETFs to reach this milestone.
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The iShares Bitcoin Trust started trading on January 12, 2024, and has quickly gained traction among investors seeking exposure to Bitcoin through a regulated and transparent investment vehicle.
IBIT’s holdings consist primarily of Bitcoin, with 99% of its portfolio allocated to the cryptocurrency.
The fund also holds a small amount of fiat currency, currently valued at nearly $60,000. As of Thursday, the fund held 25,067 Bitcoin.
Robert Mitchnick, Head of Digital Assets at BlackRock, said:
“We are excited to see IBIT reach this milestone in its first week, reflecting strong investor demand. This is just the beginning. We have a long-term commitment focused on providing investors access to an iShares quality ETF.”
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The iShares Bitcoin Trust closed Wednesday’s trading session at $24.41 and trades at a slight premium of 0.42% relative to the spot price of Bitcoin.
The fund has recorded an average daily trading volume of 14 million shares since its launch.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.