#Blackrock Spot #Bitcoin ETF's Holdings Soar Past 252K BTC — CEO Says He's 'Pleasantly Surprised' by Retail Demand
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Bitcoin: BlackRock's ETF Exceeds Expectations with $18 Billion in Assets
Mon 01 Apr 2024 ▪
3
min of reading ▪ by
Getting informed
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Invest
BlackRock’s Bitcoin Spot ETF is increasingly making its mark in the financial markets. This is evidenced by the sustained interest it has garnered of late. The enthusiasm is such that Larry Fink, the leader of this global financial heavyweight, is somewhat surprised.
BlackRock’s Bitcoin ETF Exceeds Expectations
BlackRock, the world’s largest asset manager, is witnessing a significant increase in bitcoins from the Ishares Bitcoin Trust (IBIT), its Bitcoin Spot ETF. This is what recent data suggest.
According to this data, the bitcoins involving the IBIT are now in the order of 252,011 BTC. In numeric terms, BlackRock’s ETF holdings are approximately worth 18 billion dollars. The breakthrough is quite remarkable.
But this surge is surprising, especially since it has exceeded initial expectations, including those of Larry Fink, the CEO of BlackRock. He did not fail to express his amazement at what he sees as the fastest growth in the history of finance.
“I am pleasantly surprised and would never have predicted that we would see this kind of retail demand,” said Larry Fink, who, as one would expect, does not hide his satisfaction.
The SEC Has Been Good to BlackRock!
On January 10, 2024, the Securities and Exchange Commission (SEC) authorized 11 Bitcoin Spot ETFs, including IBIT, to be traded. It is clear to say that this decision has been beneficial to BlackRock.
Since its launch, the ETF has been stringing together successes. Throughout this March, IBIT has drawn attention from the community with its performances that overshadow the competition. Its record acquisition of 12,623 bitcoins in a single day is proof of that.
Let us not forget that BlackRock’s Bitcoin Spot ETF boasts nearly 13.5 billion dollars of assets under management. A level reached in just 11 weeks. That is exceptional!
It remains to be seen whether BlackRock’s Ethereum Spot ETF will enjoy similar success. For now, nothing is certain. The SEC is vacillating on this issue leaving the crypto and broader financial community in speculation.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.