- ARK 21Shares is the third U.S. spot Bitcoin ETF to reach $1 billion in AUM.
- A total of $1 billion in AUM were attained by BlackRock’s IBIT in only four days of trading.
At long last, the spot Bitcoin ETF that ARK Invest and 21Shares launched has entered the ranks of products with $1 billion in AUM. More than $1 billion worth of Bitcoin was recorded in 21Shares’ ARKB, its joint spot Bitcoin ETF with ARK Invest, as of February 9, according to an announcement made on twitter.
A rising tide of confidence and interest in digital assets, according to the asset manager, is responsible for the number. A screenshot was uploaded to the post on twitter that provided some facts regarding the ARKB market forecast.
A total of about 21,455 units, or around $1,021,886,846 at today’s market price, of Bitcoin were bought by the duo. The average trading volume for the ARK 21Shares spot Bitcoin ETF over the last five days is $81,777,474, and the average spread is close to 0.035%.
BlackRock Dominating
Moreover, according to James Seyffart, a senior ETF analyst at Bloomberg, ARK 21Shares is the third U.S. spot Bitcoin ETF to reach $1 billion in assets under management (AUM).
A total of $1 billion in AUM were attained by BlackRock’s IBIT in only four days of trading, in contrast to ARKB, which recently surpassed this milestone. Among the Bitcoin ETFs approved by the SEC, IBIT was the first to reach the milestone.
It is thought that BlackRock’s reduced sponsor fee and reputation before becoming a Bitcoin ETF Issuer contribute to the substantial amount of inflows that the company has received so far.
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