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BlackRock's IBIT ETF Surpasses $70 Billion in Assets in Record Time

BlackRock's iShares Bitcoin Trust reaches a remarkable $71.8 billion in assets under management in just 341 trading days, highlighting strong institutional demand for Bitcoin investments.

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Summary

BlackRock's iShares Bitcoin Trust (IBIT) has surpassed $70 billion in assets under management, reaching $71.8 billion in only 341 trading days. This milestone establishes IBIT as the fastest ETF to achieve such growth, significantly outpacing the previous record of gold's SPDR ETF. Currently, IBIT holds approximately 661,457 Bitcoin, reinforcing BlackRock's position as the largest institutional holder of Bitcoin and reflecting robust institutional interest in the digital asset.

Terms & Concepts
  • IBIT ETF: BlackRock's iShares Bitcoin Trust, an exchange-traded fund that allows investors to gain exposure to Bitcoin.
  • Assets Under Management (AUM): The total market value of assets that an investment fund manages on behalf of its clients.
  • GLD: The SPDR Gold Shares ETF, which was the previous record holder for achieving $70 billion in AUM.