According to Eric Balchunas, senior ETF analyst at Bloomberg, the iShares Bitcoin Trust ETF (IBIT) is now among the top 25 ETFs by total assets.
IBIT has managed to achieve this milestone despite the fact that the ETF was launched only 1.4 years ago.
In fact, Balchunas has estimated that IBIT is the youngest ETF on the list by nine times. "It's like an infant hanging out with teenagers and twenty-somethings," Balchunas said.
The ETF analyst has opined that this could possibly be "the most insane" IBIT stat to date.
The SPDR S&P 500 ETF Trust (SPY), the oldest ETF on the list with a whopping $602 billion worth of assets, was launched more than 32 years ago.
The Invesco QQQ Trust Series 1 ETF (QQQ), which boasts $333 billion worth of assets, was launched 26 years ago.
The Technology Select Sector SPDR Fund (XLK), which comes in third place by age, was launched nearly 27 years ago.
IBIT, despite its tiny age, already boasts more than $72 billion worth of assets under management.
Vladislav Sopov
U.Today Editorial Team