BlackRock Invests Over $90 Million in iShares Bitcoin Trust ETF

BlackRock, the largest asset management firm globally, recently reported a significant investment in the iShares Bitcoin Trust ETF (IBIT), acquiring 2,535,357 shares worth $91.6 million.

Data from Farside indicates that the ETF saw an influx of $230 million in new investments on Wednesday alone.

Analyst Eric Balchunas highlighted the impressive performance of IBIT, with its trading volume reaching a record $5 billion, making it one of the top three most traded ETFs on that day.

As of the latest update, IBIT is rapidly approaching $30 billion in total inflows, with its net assets currently valued at $42.56 billion.

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BlackRock first revealed plans to include IBIT exposure in other funds earlier this year, after the product’s launch in January, which has since seen exceptional market activity.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.