Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-spot-bitcoin-etf-surges-ahead-of-trading-session/" data-wpel-link="internal">BlackRock’s Spot Bitcoin ETF Surges Ahead of Trading Session</a><br></p>
<p style="text-align: justify"><strong>The U.S. Securities and Exchange Commission</strong> (SEC) has given the green light to 11 spot <a href="https://en.coin-turk.com/bitcoin-could-reach-six-figures-and-1-million-says-macro-guru-dan-tapiero/" data-wpel-link="internal">Bitcoin</a> ETFs, following which BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust ETF (IBIT), began trading on Nasdaq at $26.99, a rise of over 20% before the session opening. Experts predict high demand for spot Bitcoin ETFs, especially IBIT, on their first trading day, which they believe will drive up the prices of Bitcoin and other altcoins.</p> 
<h2 style="text-align: justify" id="strong-blackrock-s-spot-bitcoin-etf-ibit-rises-20-before-session-opening-strong"><strong>BlackRock’s Spot Bitcoin ETF IBIT Rises 20% Before Session Opening</strong></h2> 
<p style="text-align: justify"><strong>BlackRock</strong>‘s spot Bitcoin ETF, IBIT, is trading at approximately $27.31, up nearly 25% before today’s session opening. The net asset value (NAV) of BlackRock’s spot Bitcoin ETF was $26.12 on the approval date. Following its listing on Nasdaq, BlackRock’s spot Bitcoin ETF IBIT will be launched on the iShares website and the 175,000 Aladdin investment platform.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-301131" src="https://coin-turk.com/wp-content/uploads/2024/01/BlackRock-Bitcoin-ETF-Altcoin.png" alt="" width="1826" height="1042"></p> 
<p style="text-align: justify">Bloomberg expects that on the first day, spot Bitcoin ETFs could see an inflow of $4 billion, with BlackRock capturing $2 billion of these inflows, which is 50% of the total.</p> 
<p style="text-align: justify">As known, BlackRock recently reduced its fund management fee to 0.25% and announced that it would waive a portion of the fee for the first 12 months. Thus, the fund management fee will be applied at 0.12% for the first $5 billion.</p> 
<p style="text-align: justify">BlackRock’s spot Bitcoin ETF will help eliminate some barriers and operational burdens that prevent investors, from asset management firms to <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> advisors, from directly investing in Bitcoin. Dominik Rohe, who leads iShares ETF and Index Investing at BlackRock, said, “Through IBIT, investors can access Bitcoin in a cost-effective and convenient way.”</p> 
<h2 style="text-align: justify" id="strong-current-situation-in-bitcoin-strong"><strong>Current Situation in Bitcoin</strong></h2> 
<p style="text-align: justify">There is high activity in Bitcoin on the day the U.S.’s first spot Bitcoin ETFs open for trading. The largest cryptocurrency has seen a 2.80% increase in the last 24 hours, trading at $46,849. Experts believe that on this day, with the launch of spot Bitcoin ETFs, BTC could make significant upward moves and also lift altcoins with it.</p> 
<p style="text-align: justify">With a market value of $918 billion, Bitcoin needs to add approximately $61 billion to its market value to surpass the $50,000 threshold.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blackrocks-spot-bitcoin-etf-surges-ahead-of-trading-session/" data-wpel-link="internal">BlackRock’s Spot Bitcoin ETF Surges Ahead of Trading Session</a></h5>

BlackRock’s Spot Bitcoin ETF Surges Ahead of Trading Session

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