In a mere 211 days, BlackRock’s Bitcoin ETF, IBIT, achieved $40 billion in assets under management (AUM), establishing a new record for the rapid growth of an ETF.
BlackRock’s Bitcoin ETF, IBIT, has current total assets valued at $42.56 billion. It completed this mission in one-sixth the duration of any other ETF, a remarkable achievement in terms of growth speed.
In the past 24 hours, BlackRock has acquired BTC at an accelerated rate, with a total of just under 9,000 units.
Eric Balchunas, a Bloomberg analyst, has recently reported that the total assets of BlackRock’s Bitcoin ETF have surpassed $40 billion. This places it in the top 1% of ETFs by AUM, but more crucially, it surpasses other ETFs in terms of rapidity. The second-fastest ETF to reach $40 billion did so in 1,253 days, which is just slightly faster than the third-fastest. In 211, IBIT completed the task, which is one-sixth the duration.
IBIT has consistently been at the forefront of the Bitcoin ETF market since Bitcoin entered its post-election bull market. IBIT was able to surpass its all-time high last Friday and advance once more at the market open on Monday morning. Donald Trump’s election has resulted in the complete market dominance of BlackRock’s ETF, which previously held a comforting lead.
In the interim, IBIT received $230.8 million in remittances on Wednesday. So far this week, it has recorded inflows exceeding $1.7 billion.
One straightforward illustration of BlackRock’s overwhelming success is the procurement of unprocessed Bitcoin. The industry has been devouring with rapacious enthusiasm, as the issuers are limited to the number of ETFs they can create in relation to the underlying assets they actually control. Nevertheless, BlackRock is the undisputed leader, as ETF analyst Shaun Edmondson observed.
Specifically, Edmondson has been maintaining a daily record of the Bitcoin consumption of the ETF issuers, as they are collectively 95% of the way to matching Satoshi’s holdings. BlackRock alone accounted for 8,985 of the 9,300 BTC that they collectively acquired since yesterday.
There is virtually no indication that these rapid gains will slow down. The value of Bitcoin has surpassed $90,000 today and is currently over $93,000 at the time of writing. ETFs such as IBIT are directly associated with this meteoric increase and are generating interest on their own.
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