BlackRock's iShares Bitcoin Trust (IBIT) has rapidly surpassed benchmarks set by the BlackRock iShares Gold Trust (IAU), highlighting the explosive growth of the Bitcoin ETF market.
Since the launch of BlackRock's spot Bitcoin exchange-traded fund (ETF) in January 2024, the fund has seen exponential growth, occasionally crushing milestones. The latest feat for BlackRock's iShares Bitcoin Trust (IBIT) is that its assets under management (AUM) are nearly double the figure that the BlackRock iShares Gold Trust (IAU) took 20 years to attain. According to Ju's tweet, BlackRock's gold ETF reached $33 billion in AUM in 2024 after 20 years of trading.
However, data from the crypto derivatives data analysis platform CoinGlass shows IBIT's AUM at $58.57 billion at the time of writing. This figure is almost double IAU's AUM, and it took IBIT less than a year to achieve the milestone. That IBIT became the fastest ETF to reach $50 billion in AUM, crushing the milestone 5x faster than any fund ever launched. The previous holder for this record, BlackRock's iShares Core MSCI EAFE ETF (IEFA), took 1,329 days to reach $50 billion in AUM, while IBIT achieved the feat in 228 days. Besides doubling IAU's 20-year AUM and crushing the $50 billion milestone faster than any other fund, IBIT has recorded other remarkable achievements since the United States Securities and Exchange Commission (SEC) greenlit its listing on January 11. $10 billion AUM within seven weeks of launch, a feat attributed to 150 out of the 3,400 ETFs trading globally. IBIT reached the AUM of the Grayscale Bitcoin Trust (GBTC) within 96 days of trading, becoming the largest spot Bitcoin ETF with 288,671 BTC; the fund's holdings have now ballooned to 549,920 BTC, cementing its position as the largest Bitcoin ETF trading volume, AUM, and market cap
BLACKROCK BITCOIN ETF INVESTMENT CRYPTO MARKET FINANCIAL
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