Bitcoin ETF

Bitcoin

BlackRock

<p><strong>BlackRock Inc. has achieved a major milestone with its spot Bitcoin ETF product. The iShares Bitcoin Trust (IBIT) has now exceeded $20 billion in total assets, according to market records shared by The ETF Store President Nate Geraci.</strong>&nbsp;</p> 
<p class="has-text-align-center"><em>Also read: <a href="https://www.cryptopolitan.com/bitcoin-etfs-make-26-of-blackrock/" data-type="post" data-id="534995">Bitcoin ETFs Make 56% of Fidelity’s and 26% of BlackRock’s 2024 Inflows</a></em></p> 
<p>The record makes IBIT the fastest ETF in U.S. market history to reach such a milestone. The asset, trading on the Nasdaq, achieved this feat in 144 days, as Senior Bloomberg Analyst Eric Balchunas noted. In comparison, the JPMorgan Equity Premium Income ETF (JEPI) reached the $20 billion mark in 985 days.</p> 
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   <p lang="en" dir="ltr">144 Days officially. Next fastest is <a href="https://twitter.com/search?q=%24JEPI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$JEPI</a> at 985 Days. Lol <a href="https://t.co/Sfrs15pB9h" rel="nofollow" target="_blank">pic.twitter.com/Sfrs15pB9h</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1798012418561544704?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 4, 2024</a>
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<h2 class="wp-block-heading" id="blackrock-dominates-spot-bitcoin-etf-market">BlackRock dominates spot Bitcoin ETF market</h2> 
<p>Since its launch, BlackRock has <a href="https://www.cryptopolitan.com/blackrocks-spot-eth-etf-listed/" target="_blank" rel="noreferrer noopener">maintained</a> its position as the leading issuer of spot Bitcoin ETFs. The iShares Bitcoin Trust was the first to reach $1 billion in trading volume shortly after its launch. It continued to break records by reaching $5 billion and $10 billion in assets. The growth of IBIT showcases the strong interest in Bitcoin as an investment. </p> 
<p class="has-text-align-center"><em>Also read: <a href="https://www.cryptopolitan.com/blackrock-to-become-worlds-top-bitcoin-fund/" data-type="post" data-id="524938">BlackRock All Set to Become the World’s Top Bitcoin Fund</a></em></p> 
<p>Before the U.S. Securities and Exchange Commission (SEC) approved Bitcoin ETFs, companies like MicroStrategy demonstrated Bitcoin’s potential as a corporate treasury asset. MicroStrategy began accumulating Bitcoin in 2020 and now holds more Bitcoin in its portfolio than many spot Bitcoin ETF issuers.</p> 
<h2 class="wp-block-heading" id="bitcoin-etfs-gain-momentum">Bitcoin ETFs gain momentum</h2> 
<p>The momentum of Bitcoin ETFs has been strong since their introduction. Market analysts suggest that Bitcoin ETFs could attract more capital over time. For instance, gold ETFs were introduced in 2004 and have grown significantly. Gold is currently the largest asset in the world, with a market capitalization of approximately $15.789 trillion. </p> 
<p>Bitcoin, with a market value of about $1.398 trillion, is ranked as the ninth largest asset globally. As of this writing, Bitcoin is trading at $70,238, up by 1.12% over the past 24 hours, having recently crossed the $70,000 resistance level, according to Coinmarketcap.</p>  
<p><em>Cryptopolitan reporting by Lawrence Damilola</em></p>

BlackRock’s iShares Bitcoin Trust surpasses $20b in assets

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