BlackRock’s spot Bitcoin exchange-traded fund (ETF) has quickly amassed over $10 billion in assets under management (AUM), according to Bloomberg Intelligence analyst Eric Balchunas.
Key Highlights
- BlackRock’s iShares Bitcoin Trust (IBIT) has become one of only 52 ETFs to cross the $10 billion mark.
- The ETF has seen significant inflows, with IBIT alone receiving $604 million in positive flows on Thursday.
- Grayscale’s GBTC, the only non-new ETF among the 10 approved spot Bitcoin ETFs, has experienced negative flows.
Market Impact
Bitcoin’s price has remained steady at around $62,470 at the time of writing. The surge in inflows into Bitcoin ETFs indicates growing institutional interest in the cryptocurrency.
