BlackRock’s ETF IBIT Surpasses $2 Billion in Assets Under Management:
- BlackRock has crossed the $ 2 billion mark in assets under management in its Bitcoin ETF.
- The rise in the price of Bitcoin has been a key factor in reaching this milestone.
- This event highlights an increasingly significant institutional adoption of cryptocurrencies.
BlackRock Crosses the $2 Billion Mark
BlackRock, recognized as the world’s largest asset manager, has recently reached the milestone of $2 billion in assets under management, driven in part by the increase in the price of Bitcoin (BTC) in the past 24 hours.
This achievement makes BlackRock’s ETF the first product in its category to reach such a level of assets under management, surpassing competitors like Fidelity, Bitwise, and Grayscale.
The price of bitcoin pushed IBIT’s assets beyond $2 billion. This, combined with the likely new flows today, should mean that it will be over $2 billion by the close”
Bloomberg analyst James Seyffart said
Indeed, on January 26, BTC experienced an increase of about 5.5%, briefly pushing its price back above $42,000, a level that the cryptocurrency had recently relinquished following a 10% drop.
As a result, this progress was sufficient to value the 49,952 bitcoins held by the fund on January 25 at a value exceeding $2 billion. Of course, this amount is subject to change in the coming days.
Growing Adoption Among Institutions
Achieving this milestone for BlackRock is not only a success for the company but also a strong indicator of the growing adoption of cryptocurrencies by traditional financial institutions.
With a total trading volume for Bitcoin spot ETFs surpassing $22 billion since their introduction, it is clear that interest in cryptocurrencies continues to grow, both among individual investors and institutions.
