Bitcoin ETF

Bitcoin

BlackRock

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">BlackRock, the top asset manager, has clinched a key milestone on the spot Bitcoin ETF scene through its iShares Bitcoin Trust (IBIT). Specifically, IBIT has secured approximately $20 million in inflows this year.</p>
<h2 id="blackrock-s-ibit-claims-top-spot">BlackRock’s IBIT claims top spot</h2>
<p dir="ltr">As a result, IBIT has claimed the top spot, attracting more investment than the other new ETFs launched in 2024.&nbsp; Nate Geraci, president of ETF Store, highlighted BlackRock IBIT's increasing popularity in a post on social media X. Geraci&nbsp;<a href="https://x.com/NateGeraci/status/1823539167122378998">noted</a> that out of all 375 new ETF launches in 2024, the next biggest non-spot Bitcoin ETF to IBIT amassed $1.3 billion inflows.</p>
<blockquote>
 <p lang="en" dir="ltr">iShares Bitcoin ETF has taken in approx $20.5bil this yr…Out of *all* 375 new ETF launches in 2024, next closest non-spot btc ETF = $1.3bil.Numbers are comical at this point.Spot btc ETFs (IBIT, FBTC, ARKB, BITB) = top 4 launches of 2024.Global X Russell 2000 ETF = 5th.</p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1823539167122378998?ref_src=twsrc%5Etfw">August 14, 2024</a>
</blockquote> 
<p dir="ltr">The details show that the top four spot Bitcoin ETFs launched in 2024 are IBIT, Fidelity’s FBTC, Ark Invest’s ARKB and Bitwise’s BITB. Global X Russell 2000 ETF placed fifth, with BlackRock's Ethereum ETF, ETHA, ranking sixth.&nbsp;</p>
<p dir="ltr">Analyzing IBIT’s prominence among its rivals, Bloomberg Senior ETF Analyst Eric Balchunas noted that the ETF ended with&nbsp;<a href="https://u.today/blackrock-bitcoin-etf-surpasses-rivals-as-this-crucial-metric-hits-new-record">414 reported holders</a> in May. On the other hand, BITB boasts around 100 reported holders, FBTC has slightly under 250 and ARKB has less than 100.</p>
<p dir="ltr">The recent disclosure shows strong investor interest in Bitcoin and Ethereum through ETFs. More institutions are beginning to embrace cryptocurrency as an alternative means of investment. For instance, banking giant Goldman Sachs&nbsp;<a href="https://u.today/goldman-sachs-reveals-massive-bitcoin-etf-holdings">said</a> it holds $419 million in Bitcoin ETFs. In a previous U.Today report, Larry Fink, BlackRock’s CEO,&nbsp;<a href="https://u.today/blackrocks-bitcoin-etf-just-had-one-of-its-best-days-to-date">hailed</a> Bitcoin as a diversified portfolio while comparing the cryptocurrency to gold.</p>
<h2 id="recovery-of-bitcoin-market">Recovery of Bitcoin market</h2>
<p dir="ltr">Bitcoin (BTC), the leading cryptocurrency, has experienced a notable uptick from its previous lows to the $60,000 price range. In the past 24 hours, BTC has inked a 4.2% increase to trade at $61,245. However, the trading volume declined by 12.6% to $28 billion, suggesting subdued investor interest.</p>
<p dir="ltr">After a tumultuous August, current price trends suggest that a possibly more bullish rebound is underway.</p>

BlackRock iShares Bitcoin Trust Breaks ETF Chart With $20 Billion Inflow

Table of Contents

U_Today

Other articles published on Aug 14, 2024

TON Partners with Pyth Network

WazirX Ends Partnership with Liminal

Kamala Harris Proposes 28% Crypto Tax Rate For Wealthy Fairness: BBG

JUST IN: $600 Million in Bitcoin Seized by the US Government from Silk Road Is Allegedly Being Moved

How the Bank of Japan Disrupted the Yen Carry Trade and Impacted Crypto Markets

Animoca considers potential IPO in Hong Kong or the Middle East

Join our free newsletter for daily crypto updates!