Advertisement
AD

Main navigation

Advertisement

BlackRock Discloses New Position in IBIT

Advertisement
Thu, 14/11/2024 - 5:20
 BlackRock Discloses New Position in IBIT
Cover image via stock.adobe.com
Read U.TODAY on
Google News

In a recent SEC filing, BlackRock, the world's largest asset manager, disclosed that it had purchased 2,535,357 shares of iShares Bitcoin Trust ETF (IBIT) valued at $91.6 million.

Advertisement

SoSoValue data shows that BlackRock's IBIT attracted $230 million worth of inflows on Wednesday. 

According to analyst Eric Balchunas, the red-hot ETF product logged $5 billion in daily trading volume yesterday, setting a new record. Notably, only three ETFs saw more trading activity on Wednesday. 

Related

Advertisement

Following the most recent update, BlackRock's IBIT is now inching closer to $30 billion worth of cumulative inflows. Its total net assets currently stand at $42.56 billion. It recently managed to surpass the $40 billion milestone in only 211, setting yet another record. The record in question was previously held by iShares Core MSCI Emerging Markets ETF (IEMG).

BlackRock first disclosed its intention to add IBIT exposure to other funds back in March. Since then, it has repeatedly invested in its own ETF.  

The record-shattering product was launched back in January after obtaining the much-coveted approval from the SEC. Just 10 months after its groundbreaking debut, it is already among the top 1% by total assets. This, of course, shows how absolutely gigantic this product is compared to the broader ETF landscape. 

In addition to IBIT, BlackRock also appears to be buying its Ethereum ETF in its active funds. Its iShares Ethereum Trust ETF (ETHA) attracted $35.63 million worth of inflows on Wednesday. However, the inflows recorded by the Ethereum ETF pale in comparison to IBIT.   

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD