BlackRock’s Bitcoin ETF becomes third fastest to reach $1 billion in assets, hitting milestone in 4 days

blackrock’s-bitcoin-etf-becomes-third-fastest-to-reach-$1-billion-in-assets,-hitting-milestone-in-4-days

Quick Take

Bitcoin ETFs, with just five days of trading under their belts, have already made significant strides in the financial arena. Notably, Fidelity’s FBTC and BlackRock’s IBIT ETFs have swiftly crossed the billion-dollar threshold, managing $1 billion and $1.2 billion in assets, respectively.

Bloomberg’s Senior ETF Analyst, Eric Balchunas, provides a comparative perspective by highlighting that the nine spot Bitcoin ETFs collectively hold about 40% of the Bitcoin assets managed by MicroStrategy, a prominent player in the digital asset investment space, which holds 189,150 Bitcoin.

Balchunas goes on further to say that within a pool of approximately 5,000 ETFs, FBTC and IBIT rank among the top 5 in terms of speed to reach the billion-dollar mark, trailing only BITO and GLD. BITO took a record two days to amass $1 billion in assets, followed by GLD in three days, IBIT in four, and FBTC in five, according to Balchunas.

Newborn Nine vs Microstrategy: (Source: Bloomberg, Eric Balchunas)
Bitcoin ETFs “Newborn Nine” vs MicroStrategy: (Source: Bloomberg, Eric Balchunas)

The post BlackRock’s Bitcoin ETF becomes third fastest to reach $1 billion in assets, hitting milestone in 4 days appeared first on CryptoSlate.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post
metamask-launches-staking-nodes-on-behalf-of-users,-albeit-at-a-steep-price

MetaMask Launches Staking Nodes on Behalf of Users, Albeit at a Steep Price

Next Post
bitcoin-dips-to-lowest-level-since-dec.-12-before-bouncing-as-buyers-hold-$40k-threshold

Bitcoin dips to lowest level since Dec. 12 before bouncing as buyers hold $40k threshold

Related Posts