BlackRock's iShares Bitcoin ETF rises to over $2,000,000,000 in assets under management as BTC prices rise

BlackRock's new Bitcoin (BTC) exchange-traded fund (ETF) iShares has seen assets under management (AUM) rise to over $2 billion.

According to the ETF's product page, the iShares Bitcoin Trust (IBIT) now holds 49,952.3257 BTC.

With BTC trading at $41,867 at the time of writing, the ETF’s total Bitcoin holdings are now worth more than $2.08 billion.

On January 10, the SEC approved all 11 spot BTC ETFs under consideration after applicants worked with the regulator for months to refine their proposals.

The regulator approved the launch of the country's first Bitcoin futures ETFs in October 2021, but rejected all previous spot Bitcoin ETF applications until the series of approvals earlier this month.

Exchange-traded funds track the performance of a specific asset or group of assets and are traded on a stock exchange. All approved spot Bitcoin ETFs require issuers to hold BTC directly.

In addition to Grayscale (GBTC), which converted the existing shares of its Bitcoin trust into an ETF, BlackRock's IBIT is the first of the newly approved BTC exchange-traded funds to surpass the $2 billion AUM mark.

Nate Geraci, president of investment advisory firm The ETF Store, notes that the iShares exchange-traded fund is now among the top three ETFs in terms of current assets among the over 600 ETFs that have launched since the start of 2023.

He also believes that IBIT will take the top spot on the list next week.

Don't miss a thing – Subscribe to receive email alerts straight to your inbox

Check price action

Follow us on Twitter, Facebook and Telegram

Surf the Daily Hodl Mix

Check out the latest headlines
&nbsp

Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Generated image: Midjourney

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers