Crypto NewsBitcoinHistoric Milestone for BlackRock's Bitcoin Spot ETF - Never Seen Before

Historic Milestone for BlackRock’s Bitcoin Spot ETF – Never Seen Before

BlackRock, the world's largest asset management firm, has reached a major milestone in its Bitcoin Spot ETF offering.

Follow Bitcoin Sistemi Google News Button

BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed the net assets of the firm’s well-established gold ETF, iShares Gold Trust (IAU).

As of November 7, IBIT’s net assets stood at approximately $33.17 billion, while IAU’s stood at approximately $32.9 billion. This achievement reflects the rapid rise of BlackRock’s Bitcoin ETF, which only began trading in January 2024, compared to IAU’s 19-year history since its launch in January 2005.

IBIT’s rise in popularity reflects broader institutional adoption of crypto assets. “Absolutely insane,” ETF Store President Nate Geraci said on X after IBIT attracted $1.1 billion in new investment on Tuesday, simultaneously setting a single-day inflow record.

Related News  Tether Takes an Unprecedented Cryptocurrency Step

The milestone coincides with market conditions that have increased institutional interest in digital assets. “Trump’s victory, combined with the Fed’s rate cut on Thursday, has encouraged institutions to enter the crypto markets,” said Jeff Mei, BTSE COO. “With further rate cuts, pro-crypto regulations, and ongoing stimulus in China, it makes sense for institutions to flock to BlackRock’s Bitcoin ETF, and we expect even more in the coming months.”

Noting the ETF’s record-breaking status, Geraci added: “Continue to rewrite the ETF history books. And remember, these are still not fully available on most major brokerage platforms or Vanguard.”

*This is not investment advice.



Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week