As per the information provided by Eric Balchunas, a senior ETF analyst at Bloomberg, the total assets under management is presently close to $20 billion. This already places it in the top 3% of Bitcoin ETFs, as the analyst points out. Now, BlackRock’s new offering has surpassed industry veterans including the VanEck Semiconductor ETF (SMH), the iShares TIPS Bond ETF (TIP), the iShares MSCI Japan ETF (EWJ), and the iShares MSCI Emerging Markets ETF (EEM).
U.Today stated that in early March, BlackRock’s iShares Bitcoin Trust (IBIT) became the first investment to reach the $10 billion milestone. The ETF set a new record by completing this enormous task in just seven weeks. Notably, the gold-focused fund GLD held the previous record for three years.
Now that BlackRock’s Bitcoin ETF has seen such incredible success, more well-known brands seem at ease tying their names to the cryptocurrency. Citadel, UBS, and Goldman Sachs were recently included as participants on BlackRock’s Bitcoin ETF prospectus, according to U.Today.
BlackRock’s IBIT ETF had more than $1 billion in trading activity this Monday, much above the trading volume of Bitwise’s BITB, Fidelity’s FBTC, and Ark’s ARKB.
In terms of total assets under management, BlackRock’s IBIT ETF now ranks 88th overall.
The SPDR S&P 500 ETF holds the top spot among the most popular ETFs in terms of assets under management, with $363.23 billion. The S&P 500 stock market index was expressly developed to be tracked by this ETF, which is the oldest one. Second and third place go to the Vanguard Total Stock Market ETF and the iShares Core S&P 500 ETF, respectively.
