EddieJayonCrypto

 20 Dec 24

tl;dr

The tweet by Ki Young Ju, founder and CEO of CryptoQuant, highlights the exponential growth of BlackRock's iShares Bitcoin Trust (IBIT). According to the tweet, IBIT's assets under management (AUM) have nearly doubled that of BlackRock's iShares Gold Trust (IAU) in less than a year, reaching $58.57 ...

BlackRock's iShares Bitcoin Trust (IBIT) Achieves Remarkable Milestones

BlackRock's iShares Bitcoin Trust (IBIT) has witnessed exponential growth, doubling its assets under management (AUM) in less than a year. Within a span of 228 days, IBIT crushed the $50 billion AUM milestone, outpacing any other fund by 5 times. Additionally, it reached $10 billion AUM within just seven weeks of its launch.

IBIT has now become the largest spot Bitcoin ETF, holding 549,920 BTC, and surpassing the AUM of the Grayscale Bitcoin Trust within 96 days of trading. This phenomenal growth underscores the impact of Bitcoin's rising price on the fund's trajectory.

These accomplishments have been highlighted by industry experts, showcasing the unprecedented pace at which IBIT has solidified its position in the market. The fund's rapid ascent in the cryptocurrency space has captured the attention of seasoned investors and industry observers alike.

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 20 Dec 24
 20 Dec 24
 20 Dec 24