BlackRock’s IBIT spot bitcoin exchange-traded fund reached 252,011 BTC (~$17.8 billion) in assets under management, just 3 months after trading began.
Speaking to Fox Business, BlackRock CEO Larry Fink said, “IBIT is the fastest-growing ETF in the history of ETFs,” adding that he was surprised how much bitcoin had gone up.
As BlackRock’s bitcoin ETF continues to attract record inflows and expand its holdings, it underscores the growing institutional interest in cryptocurrencies and their potential role in diversified investment portfolios. With bitcoin’s growing acceptance in traditional finance, the cryptocurrency market is entering a new era of legitimacy and maturity.