According to BlockBeats, as of June 3rd, the market value of IBIT has broken through $20 billion, reaching $20,149,945,604.32. The holdings are reported to be 291,563.175 Bitcoins. This makes IBIT the fastest Exchange Traded Fund (ETF) to reach a market value of $20 billion to date.
The data was officially released by BlackRock, the company behind IBIT. This significant achievement underscores the growing popularity and acceptance of cryptocurrencies, particularly Bitcoin, in the mainstream financial market. The rapid growth of IBIT's market value also indicates the increasing trust and confidence of investors in digital assets.
The ETF market has been witnessing a surge in the past few years, with digital asset-based ETFs like IBIT leading the way. The success of IBIT could potentially pave the way for more digital asset-based ETFs in the future, further integrating the cryptocurrency market with traditional finance.