BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT), has hit a major milestone, surpassing $80 billion in assets faster than any other ETF in history.
Record-Setting Growth
Bloomberg analyst Eric Balchunas reported that IBIT reached $83 billion in assets, making it the 21st largest ETF. This incredible growth took just 374 days, five times faster than the previous record holder.
Bitcoin’s Impact
Balchunas points out that Bitcoin’s price increases are a major factor in the overall success of Bitcoin ETFs. All spot Bitcoin ETFs combined now hold over $140 billion in assets for the first time. They took in over $1 billion in a single night, but the price surge is the main driver of this growth.
Ethereum ETF Also Thriving
BlackRock’s Ethereum ETF (ETHA) also saw impressive growth, having one of its best weeks ever. It even cracked the top 10 in weekly inflows, bringing in $675 million. While impressive, this still pales in comparison to IBIT’s massive $1.7 billion inflow.
Current Market Values
At the time of writing, Bitcoin (BTC) was trading at $122,260, and IBIT at $67.21. Ethereum (ETH) was at $3,031, and ETHA at $22.80.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your research before investing in any cryptocurrency.
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