According to U.Today, BlackRock's new Bitcoin ETF is nearing $20 billion in assets under management, as reported by Eric Balchunas, a senior ETF analyst at Bloomberg. This places it in the top 3% among Bitcoin ETFs, surpassing such established funds as the iShares MSCI Emerging Markets ETF, the iShares MSCI Japan ETF, the VanEck Semiconductor ETF, and the iShares TIPS Bond ETF.
In early March, BlackRock's iShares Bitcoin Trust (IBIT) joined the $10 billion club. The ETF achieved this significant milestone in just seven weeks, setting a new record. The previous record of three years was held by the gold-focused fund GLD. The success of BlackRock's Bitcoin ETF has led to more major names becoming comfortable with associating themselves with Bitcoin. Citadel, UBS, and Goldman Sachs have recently appeared among participants on BlackRock's Bitcoin ETF prospectus.
On Monday, BlackRock's IBIT ETF generated more than $1 billion in trading volume, putting it well above Fidelity's FBTC, Bitwise's BITB, and Ark's ARKB. Currently, BlackRock's IBIT ETF ranks 88th in terms of total assets under management. The most popular ETFs by assets under management are the SPDR S&P 500 ETF, the iShares Core S&P 500 ETF, and the Vanguard Total Stock Market ETF, which hold first, second, and third places respectively. The SPDR S&P 500 ETF, with $363.23 billion, is the oldest ETF specifically designed to track the S&P 500 stock market index.
