BlackRock's Bitcoin ETF Rapidly Reaches $1B AUM in a Week

• BlackRock's Bitcoin ETF Surpasses $1 Billion AUM
• BlackRock's iShares Bitcoin Trust (IBIT) Performance
• IBIT Composition and Trading Highlights

BlackRock's Bitcoin ETF Surpasses $1 Billion AUM

BlackRock's Bitcoin$42,260 -0.64% exchange-traded fund (ETF), denoted by the ticker symbol BLK, has reached the remarkable milestone of $1 billion in assets under management as of Wednesday. This achievement distinguishes the fund as the first among recently launched bitcoin ETFs to attain this landmark.

BlackRock's iShares Bitcoin Trust (IBIT) Performance

The asset manager's iShares Bitcoin Trust, known as IBIT, commenced trading on January 12. The attainment of the $1 billion mark within its initial week of trading is a testament to the strong investor interest. Robert Mitchnick, the Head of Digital Assets at BlackRock, communicated his optimism for the fund's future, citing a long-term commitment to providing investors with an opportunity to participate in a high-quality ETF.

IBIT Composition and Trading Highlights

The IBIT portfolio is primarily composed of bitcoin, constituting approximately 99% of its holdings. The remaining balance includes nearly $60,000 in fiat currencies. The fund concluded trading on Wednesday with a share price of $24.41, exhibiting a slight premium of 0.42% compared to spot bitcoin. Furthermore, the fund has demonstrated robust trading activity with an average daily trading volume of 14 million shares.

Edited by Jonathan Stoker