🚀 BlackRock's iShares Bitcoin Trust (IBIT) Asset Management Scale Soars, Surpassing 20 Years of Gold ETF Achievements in Just One Year
BlackRock's iShares Bitcoin Trust (IBIT) has reached an astonishing asset management scale of $58.57 billion in less than a year, nearly double the $33 billion it took for their gold ETF to achieve in 20 years!
Since its launch in January this year, BlackRock's spot Bitcoin ETF IBIT has been on a rapid rise. Ki Young Ju, CEO of market analysis platform CryptoQuant, praised IBIT for achieving this significant milestone in under a year on X.
Moreover, IBIT set a super record by becoming the fastest ETF to reach $50 billion in assets under management (AUM), five times faster than any other fund! The previous record was held by BlackRock's iShares Core MSCI EAFE ETF (IEFA), which took 1,329 days to reach $50 billion, while IBIT only took 228 days!
The secret weapon behind this? Of course, it's the skyrocketing price of Bitcoin (BTC). On December 5, Bitcoin first broke the $100,000 barrier, peaking even at $108,200.
IBIT's achievements don't stop there; it reached an AUM of $10 billion within seven weeks of its launch, becoming a standout among the 3,400 ETFs worldwide. Additionally, IBIT surpassed Grayscale Bitcoin Trust (GBTC) in AUM within just 96 minutes of trading, becoming the largest spot Bitcoin ETF with 288,671 BTC.
Currently, IBIT's holdings have ballooned to 549,920 BTC, solidifying its position as the largest Bitcoin ETF by trading volume, AUM, and market capitalization.
🗣 Conclusion:
In summary, BlackRock's iShares Bitcoin Trust (IBIT) has achieved tremendous success in a short period, opening a new chapter in the competition between the cryptocurrency market and traditional financial products.
Its rapid growth not only highlights the increasing interest and trust in digital assets but also underscores Bitcoin's potential as a store of value and investment tool.
This could prompt more traditional financial institutions to venture into the cryptocurrency space, signaling the arrival of a more diversified and interconnected global financial market.
💬 Do you think IBIT's success will serve as a catalyst for other financial institutions to enter the cryptocurrency market? Or do you believe this growth trend of Bitcoin is sustainable?
