BlackRock Bitcoin ETF Reaches US$ 1 Billion
Posted on 01/19/2024
BlackRock’s iShares Bitcoin Trust already has US$ 1 billion in assets under management. The ETF has only been trading for one week. The fund holds over US$ 25,000 bitcoin. A share currently trades in the US$ 23 range. With a bitcoin ETF approved and trading briskly, the way may be paved for other crypto ETFs, such as Ether, which trades around US$ 2,500.
Head of Digital Assets at BlackRock Robert Mitchnick said: “We are excited to see IBIT reach this milestone in its first week, reflecting strong investor demand. This is just the beginning.”