Blackrock’s IBIT Emerges Strong: Second-Largest Spot Bitcoin ETF Makes Waves
In a recent interview, Rachel Aguirre, the head of product for Blackrock’s Ishares U.S., provided insights into the remarkable success of the firm’s new spot bitcoin exchange-traded fund (ETF), IBIT.
Aguirre emphasized the diverse investor base, attracting retail, self-directed investors, and early adopters who were eager to invest from day one. IBIT has quickly become a standout player in the growing market of spot bitcoin ETFs, accumulating an impressive $11.82 billion in trading volume within just four days. With a trading volume of $1.28 billion in its initial four days, IBIT constitutes 10.82% of the total volume across all funds.
Aguirre expressed Blackrock’s excitement about investors exploring this new asset category, remaining tight-lipped about potential future allocations to bitcoin in the company’s model portfolios. IBIT currently holds 25,067 BTC, valued at slightly over $1 billion, securing its position as the second-largest spot bitcoin ETF in the United States, trailing only behind Grayscale’s GBTC in terms of holdings.
Clever Robot News Desk 19th January 2024
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