Bloomberg highlighted Blackrock’s Ishares Bitcoin Trust, also known as IBIT, on Monday, calling it the most successful launch in the history of exchange-traded funds (ETFs).
Bitcoin is in the spotlight as Blackrock’s IBIT achieves record-breaking performance.
At the close of the third quarter in 2024, Blackrock, the globe’s premier asset manager, achieved a record-breaking $11.5 trillion in managed assets, driven by substantial investor inflows and a supportive market environment. As the year drew to a close, Bloomberg cited Nate Geraci, president of The ETF Store, who lauded the Ishares Bitcoin Trust (IBIT) as the most successful ETF launch of all time.
According to Bloomberg, the IBIT fund has reached a milestone, holding over $50 billion in bitcoin, with a valuation of roughly $52.4 billion as of December 30, equivalent to a staggering 552,554.76 BTC. Shukla noted in the report that the fund’s launch has been unparalleled, stating, “In simple terms, no ETF has ever had a more successful start.” Since its inception on January 11, 2024, Blackrock’s IBIT has seen an influx of $37.31 billion in new investments.
A group of 12 funds have collectively attracted $ growth has been’s Bitcoin Trust (GBTC). Despite the majority of ETFs, including IBIT and 10 others, experiencing positive net inflows since their inception, GBTC has lost a substantial $21.35 billion in assets under management following its conversion from an over-the-counter traded product to a publicly traded ETF, a notable trend that has set a record for outflows this year.
Blackrock including several iShares ETFs, hold a significant position in the global market, with notable examples being the iShares Core S&P 500 ETF, the iShares Core MSCI Total International Stock ETF, the iShares Core U.S. Aggregate Bond ETF, and the iShares Semiconductor ETF. According to Monday, Bloomberg Intelligence analyst James Seyffart notes that the growth of IBIT is without precedent.
Market observers are eagerly anticipating shifts in how knowledgeable investors incorporate bitcoin into their diverse investment portfolios. The flurry of activity underscores the evolving perceptions of what was previously a niche over-the-counter market, dominated by GBTC and European ETPs, prompting speculation on whether other major financial players will continue to drive this significant demand. These developments introduce a fresh element to an asset category gaining increasing influence, aiming for broader acceptance within the global financial landscape. This trend reflects a surge in interest.
