Summary
TLDR: BlackRock’s iShares Bitcoin Trust (IBIT) has attracted over $15 billion in investments since its launch in January, now managing $18.7 billion in assets. The ETF has outperformed others on the market, possibly due to BlackRock’s CEO Larry Fink’s support and lower fees. Bitcoin’s price is currently at $67,787 per coin, down 4% in 24 hours from its recent all-time high. BlackRock’s total assets under management have also increased to $10.5 trillion.
Key Points
1. BlackRock’s iShares Bitcoin Trust (IBIT) has received over $15 billion worth of investment since its launch on January 11, making it a massive success in the market.
2. IBIT now has $18.7 billion in assets under management, quickly catching up with Grayscale’s Bitcoin Trust (GBTC) which has $22.2 billion.
3. BlackRock’s decision to launch a Bitcoin ETF and the support from its CEO Larry Fink, who has referred to Bitcoin as “digitizing gold” and an “international asset,” may have contributed to the success of the fund.