BlackRock's official financial reports or reputable financial news sources

BlackRock's Bitcoin ETF Hits $40 Billion in 211 Days, Bitcoin Surges to $91,000

Nov 13, 2024, 02:38 PM

BlackRock's Bitcoin ETF has reached $40 billion in assets under management (AUM) faster than any other ETF in history, achieving this milestone in just 211 days. At just 10 months old, the ETF, known as $IBIT, is now in the top 1% of all ETFs by assets, surpassing all 2,800 ETFs launched in the past ten years. According to Eric Balchunas, the ETF's performance is unprecedented. Concurrently, Bitcoin has surged to a new all-time high, reaching $91,000. Analysts predict that Bitcoin could hit $100,000 before the end of the year, with its current price just 10% shy of this milestone.