As a seasoned crypto investor with several years of experience under my belt, I can’t help but be impressed by the recent surge in institutional interest in Bitcoin through products like BlackRock’s iShares Bitcoin Trust (IBIT). Six months after its launch, IBIT has already amassed over $20 billion worth of assets under management. This is a clear indication that investors and institutional players are increasingly recognizing the potential of Bitcoin as a viable investment option.
As a researcher, I’d express it this way: Six months following its inception, the BlackRock iShares Bitcoin Trust (IBIT) has achieved an impressive milestone by managing assets valued at over $20 billion.
According to Nate Geraci, president of the ETF Store, there’s a noticeable surge in investors and institutional investors joining the market as evidenced by the continuous stream of investments recently.
On the 16th of July, IBIT recorded an inflow of approximately $260 million in new investments. The Fidelity Wise Origin Bitcoin Fund followed with around $61 million in fresh investments.
Overall, spot Bitcoin ETF products saw more than $422 million worth of inflows on Thursday.
Meanwhile, the price of the leading cryptocurrency has reclaimed the $66,000 level.
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2024-07-17 09:12