Official announcements from BlackRock or financial news outlets like Bloomberg

BlackRock's iShares Bitcoin Trust Amasses $50 Billion in 11 Months, Marking 'Greatest ETF Launch'

Dec 30, 2024, 05:07 PM

BlackRock Inc.'s iShares Bitcoin Trust (IBIT) has set a new benchmark in the exchange-traded fund (ETF) industry, achieving the title of the 'greatest launch in ETF history' according to Bloomberg. Launched in January, IBIT amassed over $50 billion in assets within just 11 months, surpassing the performance of any other ETF debut. This rapid growth has outpaced the combined assets of more than 50 European market-focused ETFs, many of which have been operational for over two decades. At the current asset level and an expense ratio of 0.25%, IBIT can expect to earn about $112 million annually. The success of IBIT has also played a significant role in driving Bitcoin's price above $100,000 for the first time, marking a pivotal moment for the cryptocurrency. The group of 12 funds now collectively hold about $107 billion in assets.