Blackrock Bitcoin ETF Draws the Attention of Diverse Investors
Rachel Aguirre, the head of product for Blackrock’s Ishares US, revealed in a recent interview about substantial inflows of funds by the new spot Bitcoin exchange-traded fund (ETF), known as IBIT. Aguirre said the IBIT ETF has managed to draw the attention of a diverse group, including “retail, self-directed investors, and some who were ready to invest from day one.”
IBIT Ranks as the Second-Largest US-Spot Bitcoin ETF
The new spot Bitcoin exchange-traded funds (ETFs) have registered an impressive USD 11.82 billion in trading volume in four days. Blackrock's IBIT fund has emerged second in terms of both trading volume and the amount of Bitcoin (BTC) holding behind Grayscale’s GBTC. IBIT has recorded a trading volume of USD 1.28 billion in four days, accounting for 10.82% of the total volume across all funds.
Rachel Aguirre, the head of Blackrock’s Ishares US products, revealed the recent inflow of funds in a recent interview with Bloomberg. She indicated that IBIT has been drawing attention from multiple sectors. “We’re seeing interest from retail, self-directed investors, and some who were ready to invest from day one,” she said. Aguirre also indicated that the company is “very excited” about investors exploring this new asset category for the first time.
Aguirre chose not to reveal any specifics, and simply stated she could not comment on the model portfolios and the possibility or Blackrock incorporating “allocation to Bitcoin in the weeks and months ahead.” Aguirre said Blackrock is “focused” on “understanding the education needs” of its clients. The largest asset management company wants to provide an investor education program to support investors “along their investing journey.”
Blackrock Secures 25,067 BTC in Holdings
The IBIT fund currently holds 25,067 BTC, valued slightly above USD 1 billion as per the IBIT website data. Currently, IBIT ranks second in terms of trading volume behind GBTC. Blackrock’s ETF also maintains the second-largest reserves in spot bitcoin ETFs in the United States, following behind the holdings of Grayscale’s GBTC.
What is your take on the Blackrock statements and IBIT's performance in the past four days of trading? Please share your thoughts and opinions about this subject in the comments section below.
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