As a seasoned analyst with over two decades of experience in the financial markets, I must admit that I have never witnessed such exponential growth in such a short span as BlackRock’s iShares Bitcoin Trust (IBIT). The fact that it has nearly doubled the figure that the BlackRock iShares Gold Trust (IAU) took 20 years to attain is nothing short of astounding.
After the introduction of the Bitcoin spot ETF by the global leader in asset management, BlackRock, in January 2024, this fund has experienced remarkable expansion, at times surpassing significant benchmarks.
On Twitter, Ki Young Ju, CEO of CryptoQuant, pointed out an impressive milestone reached by BlackRock’s Bitcoin ETF (IBIT). The assets managed by this fund have almost doubled the amount it took BlackRock’s Gold Trust ETF (IAU) 20 years to accumulate.
BlackRock’s gold ETF took 20 years to reach $33B AUM, while their #Bitcoin ETF nearly doubled gold’s AUM in less than a year.
— Ki Young Ju (@ki_young_ju) December 18, 2024
IBIT Doubles 20-Year AUM in One Year
Based on Ju’s tweet, BlackRock’s gold ETF amassed a total of $33 billion in assets under management (AUM) in 2024, following two decades of trading. On the other hand, as we speak, IBIT’s AUM stands at an impressive $58.57 billion, according to CoinGlass, a platform that analyzes data from crypto derivatives. Remarkably, this amount is nearly double the AUM of IAU, and IBIT achieved this milestone in less than a year.
Just recently, news outlet CryptoPotato announced that IBIT has set a new record by reaching $50 billion in Assets Under Management (AUM) at an unprecedented pace. This milestone was accomplished over five times faster than any other fund ever launched. The previous record holder, BlackRock’s iShares Core MSCI EAFE ETF (IEFA), took a total of 1,329 days to reach $50 billion in AUM, whereas IBIT managed this feat in only 228 days.
It’s important to note that these achievements are largely due to the increasing value of Bitcoin (BTC). Recently, on December 5, Bitcoin reached a new milestone of $100,000 for the first time. Since then, its price has surged even higher, reaching as high as $108,200.
Crushing Milestones and Exponential Growth
In addition to surpassing IAU’s 20-year Assets Under Management (AUM) target and reaching the $50 billion milestone ahead of schedule, setting a new record among funds, IBIT has also recorded other impressive accomplishments since the United States Securities and Exchange Commission (SEC) approved its public listing on January 11.
In just seven weeks since its launch, the BlackRock Bitcoin ETF amassed $10 billion in assets under management (AUM), a remarkable achievement that places it among only 150 of the 3,400 global ETFs. Meanwhile, IBIT has climbed into the top ten U.S. ETFs with the longest streaks of continuous inflows, having attracted investments for an impressive 71 days following its debut.
In my research findings, IBIT managed to surpass the Assets Under Management (AUM) of the Grayscale Bitcoin Trust (GBTC) within just 96 days of trading, making it the largest spot Bitcoin Exchange-Traded Fund (ETF). Currently, its holdings stand at approximately 549,920 Bitcoins, marking a substantial increase from the initial 288,671 BTC. This growth not only boosts its status as the leading Bitcoin ETF but also solidifies it in terms of trading volume, AUM, and market capitalization.
Read More
- FARTCOIN PREDICTION. FARTCOIN cryptocurrency
- SUI PREDICTION. SUI cryptocurrency
- Excitement Brews in the Last Epoch Community: What Players Are Looking Forward To
- The Renegades Who Made A Woman Under the Influence
- RIF PREDICTION. RIF cryptocurrency
- Smite 2: Should Crowd Control for Damage Dealers Be Reduced?
- Is This Promotional Stand from Suicide Squad Worth Keeping? Reddit Weighs In!
- Epic Showdown: Persona vs Capcom – Fan Art Brings the Characters to Life
- Persona Music Showdown: Mass Destruction vs. Take Over – The Great Debate!
- “Irritating” Pokemon TCG Pocket mechanic is turning players off the game
2024-12-19 18:56