BlackRock iShares Bitcoin ETF (IBIT) became the first of the recently launched Bitcoin spot products to reach $2 billion in assets under management, followed, according to experts, by the Fidelity Wise Origin Bitcoin Fund (FBTC).
IBIT’s assets do not include Grayscale’s GBTC, which had around $30 billion at the time of the conversion from a closed-end fund to a spot ETF, recalls Coindesk, which reports the first record among Bitcoin funds.
At the beginning of the week, investors invested around $170 million in IBIT, while the fund bought almost 4.3 thousand more bitcoins (BTC), increasing the total number of tokens to almost 50,000. And given that the price of Bitcoin significantly surpassed the $40 thousand level on Friday, the asset fund surpassed $2 billion.
At the same time, BlackRock’s Bitcoin ETF with such assets ranks third among the more than 600 ETFs launched in 2023. And the president of the ETF store, Nate Geraci, is confident that IBIT will soon take the first place.
The next fund to surpass the $2 billion mark, experts say, will be the Fidelity Wise Origin Bitcoin Fund (FBTC), which held 44,000 bitcoins as of January 25.
We remind you that it has been less than three weeks since the US Securities and Exchange Commission (SEC) approved the launch of exchange-traded funds (ETFs) that invest directly in Bitcoin. And the industry has been waiting for this permit for more than 10 years.
On the first day of trading for Bitcoin spot exchange-traded funds on the New York Stock Exchange, Nasdaq and the Chicago Board Options Exchange, investors traded more than $4.6 billion.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
