BlackRock is one of the largest and most notable names in the cryptocurrency landscape. It has made a significant contribution to the world of cryptocurrency. In a recent move, BlackRock’s iShares BTC Trust, also known as IBIT, has officially surpassed the $70 billion mark in assets under management (AUM).
Such a meteoric growth in the BTC suggests that investors have begun to show interest in BTC through regulated financial products. IBIT came into existence in January 2024. Since then, it has shown a consistent daily inflow.
The daily inflow of IBIT has already surpassed that of all other ETFs. Its success story has become even bigger than the long-standing giants like SPDR Gold Shares or GLD. All of these have started showing positive results as ETF saw a record inflow of $274 million in one day.
All in all, BlackRock’s IBIT is a successful project that has garnered enough attention and love from investors. Therefore, it could eventually become huge.
