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Jan 20, 2024

BlackRock's IBIT Surpasses $1 Billion AUM in First Week of Trading

By: Bhumi Shrivastava

Investors show strong interest in IBIT, reflecting the growing demand for regulated and transparent exposure to Bitcoin.

Rapid Investor Adoption

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IBIT's holdings are 99% allocated to Bitcoin, with a small amount of fiat currency valued at nearly $60,000.

Portfolio Composition

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Robert Mitchnick, Head of Digital Assets at BlackRock, expresses excitement, stating, "This is just the beginning."

Head of Digital Assets Speaks

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IBIT closes Wednesday's trading at $24.41, trading at a slight premium of 0.42% relative to Bitcoin's spot price.

Market Performance

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As of Thursday, IBIT holds 25,067 Bitcoin, showcasing the fund's substantial exposure to the cryptocurrency.

Significant Bitcoin Holdings

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The fund records an average daily trading volume of 14 million shares, indicating strong market participation since its launch.

Robust Trading Activity

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