BlackRock’s iShares Bitcoin Trust (IBIT) marked a turning point for the cryptocurrency market by breaking industry records as the fastest-growing crypto fund in history.
Within just 11 months of its debut in January 2024, IBIT has amassed more than $50 billion in assets under management (AUM), making it the largest spot Bitcoin exchange-traded fund on the market. In its latest report, Bloomberg highlights this development as unprecedented, noting that no ETF has ever experienced such an impressive growth trajectory.
According to Todd Sohn, managing director of ETF and technical strategy at Strategas Securities, IBIT’s asset size now matches the total asset size of over 50 long-established European market-focused ETFs. Nate Geraci, president of The ETF Store, called it “the largest launch in ETF history.”
Bloomberg Intelligence analyst James Seyffart called IBIT’s expansion “unprecedented,” citing the trust’s ability to exceed key milestones faster than any other ETF across asset classes. With an expense ratio of 0.25%, Seyffart estimates the fund will earn about $112 million annually in fees. Seyffart recently noted on “They essentially recommend 1-2% of Bitcoin exposure in a diversified portfolio.”
Source: X
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