Bitcoin

The Blackrock and Fidelity Spot Bitcoin ETF raised more assets in its first month than any other U.S. ETF in 30 years.

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The spot Bitcoin exchange-traded fund (ETF) product offered by BlackRock and Fidelity has acquired more assets in its first month of trading than any other ETF launched in the United States in the past 30 years.

BlackRock iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) have each amassed more than $3 billion in assets, making them the only ETFs out of more than 5,535 other ETFs to pass this milestone in their first month.

The assets generated by the two ETF products within their first month of trading exceeded those of more than 5,500 ETFs launched over the past 30 years.

Bloomberg ETF analyst Eric Balchunas said that even if adjusted for inflation over the years, IBIT and FBTC would still be in the top 0.1% of U.S. ETFs.

“IBTC and FBTC are in a league of their own,” he added.

Other spot Bitcoin ETFs are performing well.

IBIT and FBTC are not the only best-performing BTC ETFs. ARK 21Shares and Bitwise Bitcoin Fund are also among the top 25 BTC ETFs by assets. ProShares Bitcoin Strategy ETF, a spot Bitcoin futures product, ranked 7th.

Nate Geraci, President of ETF Store Called These figures dispel the idea that there will be no demand.

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