Blackrock’s Bitcoin ETF IBIT Ranks as Second Largest U.S. Spot Bitcoin ETF
In a recent interview, Rachel Aguirre, the head of product for Blackrock’s Ishares U.S., discussed the significant inflows observed by the firm's new spot bitcoin exchange-traded fund (ETF) called IBIT. Aguirre emphasized that the IBIT ETF has attracted a diverse group of investors, including retail investors, self-directed investors, and those who were ready to invest from day one.
The launch of new spot bitcoin exchange-traded funds (ETFs) has been a notable event, accumulating an impressive $11.82 billion in trading volume within just four days. Standing out among these funds, alongside Grayscale's GBTC, is Blackrock's IBIT. This fund has emerged as a prominent player in terms of trading volume and the amount of bitcoin (BTC) it holds. Within its first four days on the market, IBIT has already recorded a trading volume of $1.28 billion, representing 10.82% of the total volume across all funds.
During a recent conversation with Bloomberg, Rachel Aguirre, the lead for Blackrock’s Ishares U.S. products, shed light on the recent inflows into the fund. She indicated that IBIT has been attracting attention from various sectors. "We’re seeing interest from retail investors, self-directed investors, and some who were ready to invest from day one," she remarked in the interview. Aguirre also expressed Blackrock’s enthusiasm, stating that the company is "very excited" about investors exploring this new asset category for the first time.
When asked about model portfolios and the possibility of Blackrock including "allocation to bitcoin in the weeks and months ahead," Aguirre responded with a smile, choosing not to reveal any specifics and simply stating that she cannot comment on that matter. Aguirre noted that Blackrock is focused on understanding the educational needs of its clients. The firm aims to provide investors with the necessary education to support them along their investing journey.
In addition to ranking second in trading volume just behind GBTC, the IBIT fund currently holds 25,067 BTC, which is valued slightly above $1 billion according to the data on the IBIT website. Among spot bitcoin ETFs in the United States, Blackrock’s ETF maintains the second-largest reserves, trailing behind only the holdings of Grayscale’s GBTC.
What are your thoughts on the statements made by the Blackrock executive? How do you assess IBIT's performance in the past four days of trading? Feel free to share your thoughts and opinions on this subject in the comments section below.
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Statistics
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External Links
cftc.gov
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bbb.org
irs.gov
How To
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By: Jamie Redman
Title: Blackrock’s Bitcoin ETF Attracts Diverse Investors, Secures 25,067 BTC in Holdings
Sourced From: news.bitcoin.com/blackrocks-bitcoin-etf-attracts-diverse-investors-secures-25067-btc-in-holdings/
Published Date: Thu, 18 Jan 2024 15:30:16 +0000
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