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BlackRock’s spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has achieved a significant milestone by surpassing $1 billion in assets under management (AUM) within its first week of trading.&nbsp;
This makes it the first among the recently launched Bitcoin ETFs to reach this milestone.
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The iShares Bitcoin Trust started trading on January 12, 2024, and has quickly gained traction among investors seeking exposure to Bitcoin through a regulated and transparent investment vehicle.&nbsp;
IBIT’s holdings consist primarily of Bitcoin, with 99% of its portfolio allocated to the cryptocurrency.&nbsp;
The fund also holds a small amount of fiat currency, currently valued at nearly $60,000. As of Thursday, the fund held 25,067 Bitcoin.
Robert Mitchnick, Head of Digital Assets at BlackRock, said:&nbsp;
“We are excited to see IBIT reach this milestone in its first week, reflecting strong investor demand. This is just the beginning. We have a long-term commitment focused on providing investors access to an iShares quality ETF.”
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The iShares Bitcoin Trust <a href="https://finance.yahoo.com/news/blackrock-ibit-becomes-first-spot-044318128.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAACHIU5bR9Bv4naXsBnPnxLtobVstaa9OL8B217CuyVS1_7ZUfA5i3TLGSeMAy5R3UL8dHDMd-A97zV0Wz5rBbDzi_zGW6ARlZg90fcXzxbOeyFBAYC931Z5MkZzpuGM87WqTCte1HbqKx1cqvklvv5BM3yl4jSvVSgimAIbLMYev" rel="noopener noreferrer nofollow">closed</a> Wednesday’s trading session at $24.41 and trades at a slight premium of 0.42% relative to the spot price of Bitcoin.&nbsp;
The fund has recorded an average daily trading volume of 14 million shares since its launch.
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The post <a href="https://bitcoinworld.co.in/blackrocks-ibit-becomes-first-spot-bitcoin-etf-to-reach-1b-aum/" rel="noopener noreferrer nofollow">BlackRock’s IBIT Becomes First Spot Bitcoin ETF To Reach $1B AUM</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

BlackRock’s IBIT Becomes First Spot Bitcoin ETF To Reach $1B AUM

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