Crypto News – On Wednesday, the $1 billion milestone for assets under management was reached by BlackRock‘s spot bitcoin (BTC) ETF. The company is the first of a recent cohort of Bitcoin ETF providers.
Record $1 Billion in BlackRock Bitcoin ETF
On January 12, trading began for the asset manager’s iShares Bitcoin Trust (IBIT).
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.
Robert Mitchnick, Head of Digital Assets at BlackRock
According to the data, IBIT has around $60,000 in fiat assets and 99 percent bitcoin. As of Thursday’s update, the fund owned 25,067 tokens. Thus far, the data indicates that the fund has averaged a daily trading volume of 14 million shares.
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