Based on information provided by Eric Balchunas, Bloomberg’s senior ETF analyst, the assets under management for this Bitcoin ETF are nearing $20 billion. This figure places it among the top 3% of Bitcoin ETFs in existence, as noted by the analyst. Notably, BlackRock’s new product has surpassed the asset size of established funds such as iShares MSCI Emerging Markets ETF (EEM), iShares MSCI Japan ETF (EWJ), VanEck Semiconductor ETF (SMH), and iShares TIPS Bond ETF (TIP).
According to U.Today’s reporting, BlackRock’s iShares Bitcoin Trust (IBIT) reached an impressive milestone of managing $10 billion in assets in early March. This significant accomplishment was achieved in a mere seven weeks, breaking the previous record held by GLD for three years.
Major companies like Citadel, UBS, and Goldman Sachs have joined BlackRock in supporting Bitcoin after the successful launch of its Bitcoin ETF. According to U.Today, these firms were listed as participants on the prospectus for BlackRock’s Bitcoin ETF.
On this coming Monday, the BlackRock IBIT ETF has surpassed its competitors, Fidelity FBTC, Bitwise BITB, and Ark ARKB, with trading volume exceeding one billion dollars.
Overall, BlackRock’s IBIT ETF is now in 88th place by total assets under management.
In terms of the most widely used ETFs based on assets, the SPDR S&P 500 ETF holds the leading position with an impressive $363.23 billion. Launched first among its kind, this ETF is intended to mirror the performance of the S&P 500 stock market index. The iShares Core S&P 500 ETF and Vanguard Total Stock Market ETF follow closely behind in second and third positions respectively.
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2024-04-08 21:50