BlackRock’s Bitcoin ETF Hits 10 Billion Dollars in Record Time Amid Surging Demand

BlackRock's Bitcoin ETF Hits 10 Billion Dollars in Record Time Amid Surging Demand

VoM News Desk | March 5, 2024 | 10:42 AM IST | Breaking News | Follow on Google News

BlackRock’s Bitcoin ETF Hits 10 Billion Dollars in Record Time Amid Surging Demand

BlackRock’s Bitcoin ETF Hits 10 Billion Dollars in Record Time Amid Surging Demand

BlackRock’s iShares Bitcoin Trust becomes the fastest ETF ever to reach $10 billion in assets, reflecting the unprecedented demand for bitcoin exchange-traded funds since their January 11 launch.

The total assets in the 10 U.S. spot bitcoin funds have surged to nearly $50 billion, contributing to the cryptocurrency’s ascent toward a record high.

Fidelity’s fund, with over $6 billion in assets, stands as the asset manager’s third-largest ETF, driving the majority of its net ETF inflows this year.

The persistent wave of demand has kept these products robust since their strong initial launch.

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