In a landmark achievement, BlackRock's iShares Bitcoin Trust (IBIT) has accumulated $70 billion in total assets. This milestone was reached faster than any other exchange-traded fund (ETF) in history. (Source: Bloomberg)
IBIT achieved this feat in just 341 days after its launch. This is five times quicker than the previous record holder, State Street's GLD gold ETF, which took nearly 1,700 days. (Source: Bloomberg)
As the most popular of the twelve Bitcoin ETFs, IBIT stands out in the market. Fidelity's FBTC and Grayscale's GBTC follow with around $20 billion in assets each. The launch of these ETFs marked a significant shift, fueled by regulatory approval from the Securities and Exchange Commission (SEC). (Source: Bloomberg)
IBIT alone accumulated over $1 billion in assets within four days of its market introduction. By November, it surpassed BlackRock's gold fund. In December, IBIT became the fastest ETF to hit $50 billion in assets, achieving this five times quicker than BlackRock's iShares Core MSCI EAFE ETF. (Source: Bloomberg)
Bloomberg ETF expert James Seyffart noted that IBIT's growth is unprecedented, outpacing any other ETF across all asset classes. The surge in Bitcoin ETFs has coincided with significant increases in the cryptocurrency's price. (Source: Fortune Magazine)
Bitcoin reached an all-time high of $111,900 in late May. The cumulative net assets across all twelve Bitcoin ETFs surpassed $134 billion. Bitcoin retraced, testing the $100,000 support on June 5. (Source: TradingView.com)
Bitcoin has regained its bullish momentum, jumping past the $108,400 mark on Monday. With gains of 2% and 4% on the 24-hour and weekly time frames, respectively, the price is now only 2.7% below the record price level. This puts the cryptocurrency on the verge of a new price discovery phase. (Source: TradingView.com)