This is an excellent example of the success that investment products have achieved. BlackRock’s Spot Bitcoin ETF Now, BTC is worth more than $11 billion. The $9 trillion asset-management firm, in fact, has now officially managed 300,000 Bitcoins.
This achievement is made even more remarkable when you consider the timeframe of this recent milestone. In fact, this crypto-based exchange traded product was only launched officially on January 11, 2018. It has already been trading for just five months. Since then, IBIT Bitcoin’s ETF is the largest on the market.
![Bitcoin](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/Why-Is-Bitcoin-Up-Today.jpg)
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AUM of BlackRock’s Spot Bitcoin ETF passes 300 000 BTC
In the middle of the year we are approaching, the topic of crypto-based ETFs has dominated discussions in the finance industry. Bitcoin’s offering was approved by the SEC in January. Ethereum followed suit with an approval from last month. BTC, which hasn’t yet been launched, has already proven to be extremely valuable.
BlackRock’s Spot Bitcoin ETF, which has now more than $11 billion worth of BTC in it, was one of the most eagerly anticipated newcomers to the market. The prominent asset manager’s investment portfolio has more than 300,000 Bitcoins under management.
![blackrock](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/BlackRock-Now-Owns-the-Largest-Spot-Bitcoin-ETF-in-the.jpeg)
![blackrock](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/BlackRock-Now-Owns-the-Largest-Spot-Bitcoin-ETF-in-the.jpeg)
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As per the platform’s funds pageThe product has seen a net inflow of nearly 5,000 BTC yesterday. The net flows of the product yesterday were nearly 5,000 BTC. This follows BlackRock becoming the largest Bitcoin ETF by assets managed.
BlackRock IBIT overtook Grayscale Bitcoin ETF during the final week of May. Grayscale’s Bitcoin trust, which had traded on OTC since 2015, was converted to a Bitcoin ETF. BlackRock’s reach and relevancy will make it difficult for any Bitcoin ETF to compete. Furthermore, BlackRock’s Ethereum ETF’s performance will be very interesting, especially given the undeniable popularity of this ETF.
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Source: watcher.guru