Bitcoin

BlackRock’s iShares Bitcoin Trust (IBIT) has rapidly achieved the $1 billion assets under management (AUM) milestone, making it the first among the recent wave of bitcoin exchange-traded fund (ETF) providers to reach this significant mark. The ETF commenced trading on January 12, marking a swift ascent to the billion-dollar AUM status within its first week. 
Robert Mitchnick, Head of Digital Assets at BlackRock, expressed enthusiasm about IBIT’s accomplishment, stating via email, “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.” 
According to data, IBIT’s holdings primarily consist of 99% bitcoin, complemented by nearly $60,000 in fiat currency. As of the latest update on Thursday, the fund held 25,067 tokens. Closing Wednesday’s trading at $24.41, IBIT trades at a marginal premium of 0.42% compared to the spot price of bitcoin. The ETF has maintained an average daily trading volume of 14 million shares, indicating active market participation.

BlackRock’s Bitcoin exchange-traded fund (ETF) achieves a remarkable milestone, amassing $1 billion in assets under management (AUM) within ...

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