The post BlackRock’s IBIT ETF Breaks Records as Fastest-Growing Crypto Fund: Bloomberg appeared on BitcoinEthereumNews.com.

Bloomberg in its latest report has spotlighted BlackRock ETF’s records which has smashed industry records in its launch year itself. It noted that no ETF has ever had such an exceptional debut as it grew to a behemoth with more than $50 billion in assets in less than a year which makes it the fastest-growing cryptocurrency ETF in history.  IBIT’s size grew to match the combined assets of over 50 long-established European market-focused ETFs. Todd Sohn of Strategas Securities highlighted this in a note, while Nate Geraci, the President of The ETF Store has called it “the greatest launch in ETF history.” Bloomberg Intelligence analyst James Seyffart noted: “IBIT’s growth is unprecedented. It’s the fastest ETF to reach most milestones, faster than any other ETF in any asset class,” he said. “At the current asset level and an expense ratio of 0.25%, IBIT can expect to earn about $112 million a year,” he added. Notably, Larry Fink, the firm’s CEO, who once criticized Bitcoin as a tool for global money laundering has now shifted his view as he began to view Bitcoin as “digital gold.” BlackRock’s entry into the spot-Bitcoin market, supported by its strong ETF track record, led to the approval and launch of the first US Bitcoin ETFs in January. Following this approval, BlackRock, along with Fidelity, VanEck, Grayscale, and others, launched the first cohort of US Bitcoin ETFs. Together, these 12 funds now manage approximately $107 billion in assets. BlackRock’s Contribution To BTC Rally IBIT now holds more assets than BlackRock’s gold ETF, the second-largest gold fund globally. Notably, Geraci believes that IBIT in 2025 could surpass SPDR Gold Shares, the largest gold ETF, barring a collapse in the price of Bitcoin. IBIT’s success also marked a significant turning point for Bitcoin, potentially boosting its legitimacy and…

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Filed under: News - @ December 31, 2024 12:21 am