BlackRock’s IBIT ETF currently has $2 billion in assets under management and holds approximately 50,000 BTC.

BlackRock’s iShares Bitcoin ETF (IBIT) has amassed over $2 billion in assets under management (AUM) in just 10 days since its trading debut, setting a new standard in the crypto investment space, according to Bloomberg Terminal. It has been set data.

BlackRock currently holds approximately 50,000 BTC through ETFs. This rapid accumulation not only reflects strong investor interest, but also represents a key moment in the integration of digital assets into mainstream finance.

rapid growth

IBIT has seen consistent capital inflows since its inception. In his first 10 days, the fund’s assets under management increased significantly due to strategic acquisitions and the rise in the value of Bitcoin. The key moment occurred on the ninth day, when the investment amount jumped to about $170 million.

With this inflow, the fund acquired approximately 4,300 Bitcoins, bringing its total holdings to 49,952 Bitcoins. As the price of Bitcoin soared above $40,000, IBIT’s value rose rapidly, passing the $2 billion threshold.

The ETF’s performance is even more remarkable when viewed against the backdrop of its competitors. While Grayscale Bitcoin Trust (GBTC) has transitioned to a spot ETF with nearly $30 billion in assets under management, IBIT’s rapid growth trajectory reflects the dynamic nature of crypto investing and investor confidence in BlackRock’s management. Shows trust.

Nate Geraci, president of ETF Store, said IBIT was among the more than 600 ETFs launched in the past year. 3rd place Assets are being collected. Geraci expects IBIT could soon become his primary ETF in terms of assets, but traditional funds currently occupy that position.

pursuit of fidelity

Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) is poised to become the next fund to cross the $2 billion threshold, with holdings just shy of 44,000 BTC at the time of writing. . The ETF has closely mirrored IBIT’s performance since its inception, with more than $100 million in inflows on January 26, bringing the total to $1.8 billion in 10 days.

Meanwhile, Fidelity’s 10th day trading volume was $223.8 million, slightly higher than IBIT’s $203.7 million. This competition between major financial institutions to take advantage of the rapidly growing cryptocurrency market is a clear sign of the sector’s growing legitimacy and attractiveness.

BlackRock’s success with IBIT comes amid a broader trend of increasing institutional involvement in the cryptocurrency space. This trend reflects a major change in market dynamics, with traditional financial players becoming more active participants in what was once considered a niche market.

The success of such ETFs also shows the maturity of the crypto market. The availability of regulated traditional investment vehicles like ETFs makes it easier for a wider range of investors to gain exposure to cryptocurrencies, increasing stability and reducing volatility in crypto markets. may lead to.