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BlackRock’s IBIT hits $58.57B in under 12 months

BlackRock’s IBIT hits $58.57B in under 12 months

GrafaGrafa2024/12/20 02:20
By:Mahathir Bayena

BlackRock’s iShares Bitcoin Trust (IBIT) has quickly achieved a significant milestone, reaching $58.57 billion in assets under management (AUM) in less than a year.

This figure is nearly double the $33 billion BlackRock’s iShares Gold Trust (IAU) accumulated over 20 years of trading.

Since its launch in January 2024, IBIT has seen rapid growth, driven in part by Bitcoin’s (CRYPTO:BTC) rising price.

The cryptocurrency recently reached $100,000 for the first time on December 5, 2024, and peaked at $108,200 shortly after.

“IBIT’s AUM is almost double what IAU reached in 20 years,” according to Ki Young Ju, founder and CEO of CryptoQuant.

Earlier this month, IBIT set another record, becoming the fastest ETF to reach $50 billion in AUM, accomplishing this feat five times faster than any fund before it.

While BlackRock’s iShares Core MSCI EAFE ETF (IEFA) took 1,329 days to reach this milestone, IBIT did so in just 228 days.

Moreover, IBIT reached $10 billion in AUM just seven weeks after its launch, a notable achievement considering that only 150 out of 3,400 global ETFs have achieved such a feat.

Following its debut, IBIT also joined the top ten U.S. ETFs with the longest inflow streaks, registering continuous inflows for 71 days.

In just 96 days of trading, IBIT exceeded the Grayscale Bitcoin Trust's (GBTC) AUM.

It now holds 549,920 BTC, solidifying its position as the largest Bitcoin ETF by AUM, trading volume, and market cap.

The fund’s rapid growth and success highlight the growing demand for Bitcoin-related investment products.

At the time of reporting, the price of Bitcoin (BTC) was $97,711.18.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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