Chair

Spot

James

The official spot Bitcoin exchange-traded fund (ETF) created by BlackRock, the world’s largest asset management firm, has officially surpassed $2 billion in assets under management after the price of the leading digital asset broke above $42,000.&nbsp;
Bitcoin broke past $42,000 on Friday night, pushing the AUM of iShares Bitcoin Trust (IBIT) above $2 billion, making it one of the fastest of the<a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> recently approved ETFs</a> to reach the number, dominating the similar offerings from competitors.
<h2 id="span-style-font-weight-400-aum-of-the-blackrock-btc-etf-skyrockets-span">AUM of the BlackRock BTC ETF Skyrockets</h2>
The price of Bitcoin jumped around 5% on Friday, breaking above $45,000 for the first time in the past seven days, according to the data from<a href="https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD" rel="noopener noreferrer nofollow"> TradingView</a>. It is important to note that BlackRock held around 49,952 bitcoins in the fund as of January 25, which makes its total value above $2 billion.&nbsp;
However, this is only true if there was no money flowing out of the asset management company’s iShares Bitcoin Trust on Friday.
<h3 id="span-style-font-weight-400-blackrock-has-a-strong-competitor-span">BlackRock has a Strong Competitor</h3>
On the other hand, Grayscale’s spot Bitcoin ETF has around $20 billion in AUM, as<a href="https://twitter.com/JSeyff/status/1750873552306254314" rel="noopener noreferrer nofollow"> pointed</a> out by Bloomberg Intelligence analyst James Seyffart. However, this value comes after the<a href="https://thecoinrise.com/grayscale-sells-off-2-14b-btc-in-dawn-of-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> conversion of its flagship product</a>, GBTC, into its spot BTC ETF.
“The bitcoin price has pushed IBIT’s assets beyond $2 billion. This plus likely new flows today should mean it will be above $2 billion at close,” Bloomberg Intelligence analyst James Seyffart wrote in a post on social media platform X.
<h2 id="span-style-font-weight-400-trading-volume-of-btc-etfs-span">Trading Volume of BTC ETFs</h2>
The trading volume of spot Bitcoin ETFs has continued to soar, surpassing $22 billion since the approval of the eleven applications for the product filed by BlackRock, Bitwise, Fidelity, and others on January 10.&nbsp;
The top three ETFs by trading volume are Grayscale, BlackRock, and Fidelity, while ARK Invest and Bitwise each have more than $500 million in assets under management. As per official data, the<a href="https://thecoinrise.com/spot-bitcoin-etfs-over-100000-btc-accumulated-in-seven-days/" rel="noopener noreferrer nofollow"> trading volume of the products has been on the decline</a> since approval, when the volume hit $2.3 billion.&nbsp;
<h3 id="span-style-font-weight-400-concerns-surrounding-spot-btc-etfs-span">Concerns Surrounding Spot BTC ETFs</h3>
Rostin Behnam, the Chair of the Commodity Futures Trading Commission (CFTC), recently said that the approval of the spot BTC ETFs by the United States Securities and Exchange Commission (SEC)<a href="https://thecoinrise.com/cftc-chair-shares-concerns-over-recently-approved-spot-btc-etfs/" rel="noopener noreferrer nofollow"> poses risks for investors</a>.&nbsp;
“I fear that the regulatory approval of bitcoin ETPs introduces risk that, in spite of yellow flags, market participants, retail and institutional alike, may mistake the technical approval of a product—with actual regulatory oversight of the cash commodity digital assets,” Behnam said.
The post <a href="https://thecoinrise.com/blackrock-spot-btc-etf-breaks-above-2b-in-aum/" rel="noopener noreferrer nofollow">BlackRock Spot BTC ETF Breaks Above $2B in AUM</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

BlackRock Spot BTC ETF Breaks Above $2B in AUM

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