- BlackRock became the first bitcoin ETF provider to exceed $1 billion in AUM.
- Fidelity’s Wise Origin Bitcoin Trust hit this mark on its fifth trading day.
Within one week of its inception, Fidelity Investment’s spot Bitcoin (BTC) ETF has amassed more than $1 billion in assets under management (AUM), making it the second ETF provider to achieve this feat.
According to Bloomberg data, Fidelity’s Wise Origin Bitcoin Trust hit this mark on its fifth trading day, when it recorded flows totaling $1.01 billion in AUM. The iShares Bitcoin Trust (IBIT) of BlackRock, which has an AUM of $1.06 billion, hit a similar mark the day before.
The accomplishment stands out considering how short it has been since the ETF was launched, showcasing how quickly the issuers that were recently authorized have risen to prominence. The rapid expansion reflects the high level of demand from investors in these products, even though the ETF had trouble getting permission from the SEC in the past.
Significant Demand
Moreover, accumulating $1 billion in assets under management (AUM) in a very short period of time is a remarkable feat for any exchange-traded fund (ETF), according to market watchers. Investors’ strong desire to get exposure to Bitcoin via regulated investment vehicles is evident from the inflows into these ETFs within only one week.
Bitcoin has surpassed silver to become the second-largest commodity in the United States by AUM, thanks to the massive inflows into these ETFs. Crypto goods are becoming more mainstream and integrated into more conventional investing portfolios, as seen by this change.
On Wednesday, BlackRock’s spot bitcoin ETF became the first bitcoin ETF provider to exceed $1 billion in assets under management (AUM). The iShares Bitcoin Trust (IBIT), managed by the asset manager, went live for trading on January 12.
Highlighted Crypto News Today:
SEC Acknowledges Applications for Options Trading on Spot Bitcoin ETFs
