The post BlackRock’s Bitcoin ETF Surpasses $50B AUM as Bitcoin Reaches $100K, Indicating Market Shifts appeared on BitcoinEthereumNews.com.

BlackRock’s iShares Bitcoin Trust has made a historic mark on the cryptocurrency landscape, hitting unprecedented growth rates. The fund not only breaks records but also injects fresh capital and legitimacy into the Bitcoin market, appealing to both institutional and retail investors. “BlackRock’s swift ascent in the ETF realm showcases its prowess and instills confidence among investors,” stated Anthony Perrotta, CEO of COINOTAG. BlackRock’s iShares Bitcoin Trust achieves $50B AUM in record time, propelling Bitcoin past $100K and redefining the ETF market dynamics. BlackRock Bitcoin ETF breaks records The iShares Bitcoin Trust has reached milestones at a pace no ETF has matched before. Notably, Todd Sohn, managing director of ETF and technical strategy at Strategas Securities, noted that IBIT’s asset size now equals the combined AUM of over 50 long-established European ETFs. This unprecedented growth has positioned IBIT as a pioneering force in the ETF industry. Nate Geraci, president of The ETF Store, described IBIT’s launch as “the greatest in ETF history.” This sentiment is echoed across the financial landscape, with many viewing the fund’s success as a catalyst for mainstream adoption of cryptocurrency investments. Bloomberg Intelligence analyst James Seyffart estimated that with its current AUM and a 0.25% expense ratio, the fund is projected to generate $112 million annually in revenue for BlackRock, underscoring the financial viability of cryptocurrency ETFs. A boost for BTC The launch of IBIT also marked a major shift for Bitcoin. Following BlackRock’s backing, Bitcoin [BTC] surged past $100,000 for the first time, signaling a robust demand and increasing institutional support. The world’s largest asset manager, overseeing more than $11 trillion, brought institutional legitimacy to the cryptocurrency, attracting both traditional investors and individuals who had previously been cautious. The road to IBIT’s launch followed years of regulatory hurdles. Efforts to secure approval for a spot-Bitcoin ETF…

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Filed under: News - @ December 31, 2024 10:10 pm