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The BlackRock iShares Bitcoin ETF (IBIT) on Friday became the first of the recently launched spot bitcoin products to reach $2 billion in assets under management (AUM). This doesn’t include Grayscale’s GBTC, which had nearly $30 billion in AUM at the time of its conversion from a closed-end fund to a spot ETF.
Investors added about $170 million to IBIT on Thursday, with the fund purchasing nearly another 4,300 bitcoin (BTC), pushing total tokens held to 49,952. With the price of bitcoin rising well above the $40,000 level early Friday, that brought AUM to above $2 billion.
Now with over $2 billion in AUM, the fund ranks third in asset gathering among all of the more than 600 ETFs that launched in the past year, , who believes IBIT could soon take over the crown as number one.
The next fund to cross the $2 billion mark is likely to be Fidelity’s Wise Origin Bitcoin Fund (FBTC), which held just shy of 44,000 bitcoin as of Jan. 25.
Edited by Stephen Alpher.