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Home CRYPTO

BlackRock’s Spot Bitcoin ETF Surges Past $2 Billion AUM, Leading Bitcoin Market

by Conie
January 26, 2024
in CRYPTO, INVESTING
Reading Time: 2 mins read
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  • The BlackRock iShares Bitcoin ETF (IBIT) has crossed $2 billion in assets under management (AUM), becoming the first spot bitcoin ETF to reach this milestone.
  • IBIT gathered about $170 million on Thursday, purchasing nearly 4,300 additional bitcoin to bring its total holdings to 49,952 BTC.
  • Fidelity’s Wise Origin Bitcoin Fund (FBTC) with nearly 44,000 BTC is likely to be the next spot bitcoin ETF to hit $2 billion AUM.

The BlackRock iShares Bitcoin ETF (IBIT) has become the first spot bitcoin ETF to reach $2 billion in assets under management (AUM). This milestone excludes Grayscale’s GBTC, which converted from a closed-end fund to a spot ETF with nearly $30 billion in AUM.

IBIT Reaches $2B AUM

Investors added about $170 million to IBIT on Thursday. The fund purchased nearly 4,300 additional bitcoin, bringing its total holdings to 49,952 BTC. With bitcoin’s price rising above $40,000 on Friday, IBIT’s AUM crossed the $2 billion threshold.

Now with over $2 billion in AUM, IBIT ranks third among all ETFs launched in the past year for asset gathering. ETF Store president Nate Geraci believes IBIT could soon become the top new ETF by AUM.

JUST IN: BlackRock’s Spot #Bitcoin ETF now holds $2 billion worth of $BTC pic.twitter.com/cS9aCG7UEy

— BlockNews.com (@blocknewsdotcom) January 26, 2024

Fidelity’s Wise Origin Bitcoin Fund (FBTC) is likely to be the next spot bitcoin ETF to reach $2 billion. As of January 25, FBTC held just under 44,000 BTC.

CoinDesk Background

CoinDesk is an award-winning media outlet covering cryptocurrency and digital assets. It was acquired by Bullish in November 2023 but operates as an independent subsidiary. An editorial committee is being formed to support CoinDesk’s strict editorial policies and commitment to the highest journalistic standards.

About the Author

Helene Braun is a news reporter at CoinDesk covering the criminal trial of Sam Bankman-Fried. She is a recent graduate of New York University’s business journalism program and has appeared on CBS News and Nasdaq Trade Talks. Helene holds BTC and ETH.

Tags: BitcoinBitcoin ETFblackrockcryptoGBTC
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