BlackRock Bitcoin ETF Hits $2B AUM Milestone in Two Weeks

Blackrock becomes the first Bitcoin ETF among the new issuers to reach this milestone.

by . Fact checked by: Ciaran Lawler, Editor: Stefan Trapp
Published:
Larry Fink waiting in the land of time.
Created by Kornelija PoderskytÄ— from DailyCoin
Google News Follow Button
  • BlackRock is emerging as a titan in the crypto industry. 
  • The financial giant now manages $2 billion worth of Bitcoin. 
  • BlackRock’s new ETF is the first among issuers to reach this milestone. 

BlackRock, one of the world’s largest asset managers, is quickly becoming a behemoth in the crypto industry following the success of its Bitcoin ETF. Since gaining approval two weeks ago, the financial giant has led the pack, attracting billions in inflows and achieving remarkable milestones. 

BlackRock’s Bitcoin Bags Grow Following ETF Success

Bitcoin ETFs have been making waves in the TradFi industry since gaining approval on January 10, drawing in a surge of investors looking to ride the hype surrounding the financial instrument. 

BlackRock stands tall among the choices, mainly due to its eminent status in the finance industry. After quietly gobbling up a staggering 11,500 bitcoins in the first two days of the ETF, the asset manager now oversees a staggering 49,952 bitcoins, valued at an impressive $2 billion at press time.

Sponsored

BlackRock’s newly launched Bitcoin ETF is the first among the new issuers to reach the milestone of amassing over $2 billion in assets under management, with Fidelity closely trailing at $1.8 billion AUM. Still, despite managing the highest assets, Grayscale’s Bitcoin Trust has weathered significant outflows in the last two weeks, witnessing nearly $5 billion exiting its coffers.

On the Flipside

  • Crypto analysts suggest that a Bitcoin supply crunch is on the horizon because of BlackRock and Fidelity’s success. 
  • Bitcoin ETFs are the second-largest commodity ETF, trailing only behind Silver ETFs.
  • With the intense institutional interest in Bitcoin, retail investors could face challenges accessing and participating in the market.

Why This Matters

BlackRock’s success with its Bitcoin spot ETF could potentially shape the trajectory for Bitcoin. As demand for the financial instrument continues to surge, the market could experience a seismic shift.

Founders behind a $575 million crypto Ponzi scheme face extradition:
HashFlare Founders Face Extradition to US Over $575M Ponzi

Tesla remains committed to HODLing its bitcoins:
Tesla HODLs Bitcoin Stash, Q4 2023 Report Reveals No Selling 

Sponsored

DailyCoin Newsletter

The hottest crypto news, straight to your inbox!

newsletter icon

Get a daily dose of crypto stories in a quick read with a tongue-in-cheek twist! Suitable for everyone, from crypto newbs to battle-tested veterans.

      You can easily unsubscribe at any time. Spoiler Alert: You won’t want to!

      This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

      Tags
      Author
      Insha Zia
      Insha Zia

      Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.