Blackrock, the worlds largest asset manager, reached an all-time peak of $11.5 trillion in assets under management by the end of Q3 2024, thanks to significant net inflows and favorable market conditions. As the year wraps up, Bloomberg quoted Nate Geraci, president of The ETF Store, praising the Ishares Bitcoin Trust (IBIT) as the greatest launch in ETF history.
Bloomberg reports that the IBIT fund now boasts more than $50 billion in bitcoin, with its holdings valued at approximately $52.4 billion as of Dec. 30amounting to an impressive 552,554.76 BTC. Shukla summed it up in the report, saying, Simply put, no ETF has ever had a better debut. Since Jan. 11, 2024, Blackrocks IBIT has attracted $37.31 billion in positive net inflows.
Blackrocks exchange-traded products (ETPs) are some of the worlds most dominant ETFs and they include Ishares Core S&P 500 ETF (IVV), Ishares Core MSCI Total International Stock ETF (IXUS), Ishares Core U.S. Aggregate Bond ETF (AGG), and Ishares Semiconductor ETF (SOXX).
Source:
https://news.bitcoin.com/bitcoin-boom-goes-mainstream-blackrocks-ibit-becomes-the-fastest-growing-etf-of-all-time/James Seyffart the Bloomberg intelligence analyst said Its the fastest ETF to reach most milestones, faster than any other ETF in any asset class.
The implication of Blackrocks actions are far reaching and their influence cant be overstated. This development suggests that this big companies are getting more relaxed and friendly with bitcoin.
If more of them come in to bitcoin and invest largely, it could lead to more mainstream adoption and increased price.
As the ETF market continues to evolve, itll be interesting to see how BlackRocks competitors responds to the success of IBIT
Have a Wonderful new year !
2025 is gonna be greater!
