The rise in Bitcoin’s price pushed BlackRock’s ETF assets under management to over $2 billion.
As Bitcoin prices rose on Friday, BlackRock’s spot Bitcoin ETF reached a milestone of $2 billion in assets under management as the company’s newly launched product continues to dominate a new class of exchange-traded funds. You are in a position to do it.
Bitcoin 
BTC
+5.67%
Grayscale’s spot Bitcoin ETF is said to have an AUM of approximately $20 billion. published data According to Bloomberg Intelligence analysts, the product is a conversion of its flagship fund GBTC.
“Bitcoin prices have pushed IBIT’s assets past $2 billion. Adding new flows could eventually push it past $2 billion,” wrote James Seyffart, an analyst at Bloomberg Intelligence. post At X.
Total trading volume for spot Bitcoin ETFs has surpassed $22 billion since investors gained the ability to buy and sell the product earlier this month, according to Yahoo Finance data compiled by The Block. .
As AUM increases, overall trading volume slows down.
The top three spot Bitcoin ETFs by trading volume are provided by Grayscale, BlackRock, and Fidelity, with AUM of nearly $2 billion. Products launched by Ark Invest and Bitwise each manage over $500 million in assets.
Trading volume slowed after the first day of trading, when sales of new products hit $2.3 billion, according to Yahoo Finance data compiled by The Block.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.
