Unveiling the Bitcoin Amount Held in BlackRock’s Spot ETF

• First Trading Day: New Spot Bitcoin ETFs Exceed $4.5 Billion in Volume
• BlackRock's Spot Bitcoin ETF
• BlackRock's Bitcoin Holdings
• CEO of BlackRock Supports Digital Assets

First Trading Day: New Spot Bitcoin ETFs Exceed $4.5 Billion in Volume

Trading started off with a bang as the 11 newly approved Spot Bitcoin$42,260 -0.64% ETFs amassed a trading volume surpassing $4.5 billion on their first day. This investment product quickly demonstrated significant success, but how much of this digital asset does the most significant issuer hold? In focus here is the quantity of Bitcoin held by BlackRock's Spot Bitcoin ETF.

BlackRock's Spot Bitcoin ETF

BlackRock is an asset manager that has issued one among several approved Spot Bitcoin ETFs that began trading on a Thursday morning. The approvals delivered by the US Securities and Exchange Commission (SEC) put an end to more than a decade of dismissal.

BlackRock's Bitcoin Holdings

BlackRock now holds 2,620 BTC, valued over $120 million for their spot Bitcoin ETF. The wait for such a milestone was felt throughout the final months of 2023 in the digital asset sector. All indications suggested a historic moment - the first-ever approval of a Spot Bitcoin ETF in the US. Not long into the new year, the SEC approved numerous applications, effectively offering the investment vehicle to the market.

Upon approval, all 11 issuers were set to trade on Thursday morning. Notably, the world's leading asset management firm, BlackRock, listed on the Nasdaq exchange, was among these issuers. Their iShare Bitcoin Trust was anticipated to be a high performer amongst all issuers.

Following just after the first trading day, BlackRock's holding of 2,620 BTC, equating to more than $120 million for its Spot Bitcoin ETF, demonstrated its significant success on its inaugural day. The hype is expected to drive this figure even higher in the upcoming days.

CEO of BlackRock Supports Digital Assets

BlackRock's CEO, Larry Fink, is openly expressing his support for digital assets. During a recent CNBC interview, he compared it to gold, indicating it as an asset offering protection. Furthermore, Fink expressed interest in expanding the firm's digital asset reach. Specifically, he sees value in potentially launching a Spot Ethereum$2,315 -2.42% ETF. The development of the Bitcoin ETF has been overwhelmingly positive for nearly all issuers.

Edited by Jonathan Stoker