BlackRock's iShares Bitcoin Trust (IBIT) has become the fastest-growing ETF in history, amassing $80 billion in assets just 374 days after its launch.
Record Achievements of BlackRock
IBIT reached $80.11 billion in net assets, setting a new record for the ETF industry. This milestone comes amidst a growing demand for bitcoin, making it a significant event for both investors and the overall financial system.
Comparison with Other ETFs
In comparison, Vanguard's ETF ($VOO) took 1,814 days to reach similar levels. IBIT outpaced this by collecting assets five times faster. Currently, IBIT accounts for more than half of the total assets of all US-listed Bitcoin ETFs, which have now reached a new record of $140 billion.
Reasons for the Bitcoin ETF's Success
The success of IBIT can be attributed to both the positive price momentum of Bitcoin and continuous inflows from institutional and retail investors. On one day alone, IBIT generated $448.49 million, significantly exceeding the amounts attracted by other ETFs like Fidelity and ARK 21Shares.
The launch of IBIT has been met with great interest, highlighting growing investor confidence in Bitcoin and the unprecedented impact of BlackRock on the cryptocurrency market.
