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BlackRock Bitcoin ETF Becomes Fastest Growing ETF Product
iShares Bitcoin Trust (IBIT), BlackRock's Bitcoin Exchange-Traded Fund (ETF) has broken an industry record by raking in assets of more than US$50 billion in just 11 months since its launch. This achievement makes other ETFs unable to beat IBIT's record.
In fact, Strategas Securities ETF Managing Director Todd Sohn stated that IBIT has grown to be equivalent to the combined assets managed by more than 50 ETFs focused on the European market, most of which have been around for more than two decades.
"IBIT's growth is unprecedented. This is the fastest ETF to achieve most of its achievements, faster than any other ETF in any asset class," said Bloomberg Intelligence Analyst James Seyffart.
Seyffart added that at the current asset level and expense ratio of 0.25%, IBIT can be projected to generate around US$112 million per year.
-# source image: Decrypt
