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