Economic news

BlackRock’s BTC ETF Becomes World’s Fastest Growing Fund

Monday ‘s has made history again. The fund, the largest of its kind, has surpassed $70 billion in assets in just 341 trading days, making it the fastest-growing ETF The world.

IBIT just passed the $70 billion mark and is now the fastest ETF, which has ever reached this mark in just 341 days. That’s five times faster than GLD’s old record of 5 days, Balchunas wrote.

Bitcoin ETF from BlackRock, with assets of more than $70 billion, is currently the most popular among similar funds tracking the price of the flagship cryptocurrency. BTC-ETF Fidelity’s ranks second with nearly $31 billion in assets under management, according to The Block Data Dashboard.

BlackRock’s main competitor to IBIT is the GLD exchange-traded fund, also known as SPDR Gold Shares, which tracks the price of gold. It was first listed on the New York Stock Exchange in November 2004. It has nearly $100 billion in assets under management.

Bitcoin- BlackRock’s fund was launched in January 2024. It held 2,8% of all BTC in April, according to Arkham Intelligence. The asset manager holds bitcoin on behalf of its clients, but does not own the cryptocurrency itself.

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