Mentioned:
MTPLF -8.55% USBC +9.32%
BlackRock is serious about the business of Bitcoin. And they're smashing every record for ETFs on Wall Street because of it.
What’s happening:
- BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) has officially hit $70B USD in assets under management
Why it matters:
- BlackRock’s iShares Bitcoin Trust has reached $70B USD in assets under management in less than one year since officially launching on the Nasdaq, which makes it the single fastest growing ETF in history
Going deeper:
- BlackRock’s iShares Bitcoin Trust has seen aggressive capital inflows from both individuals and institutional investors and now holds roughly 3% of the entire Bitcoin supply in circulation
- The demand for Bitcoin in the traditional public markets has also continued to fuel publicly listed companies buying Bitcoin to hold directly as an asset, including early stage technology investor Greg Kidd just recently taking over Know Labs (NYSE: KNW) and Metaplanet (OTCQX: MTPLF) pouring another hundred million dollars into Bitcoin accumulation
The intrigue:
- SPDR Gold Shares (NYSE: GLD) was previously the fastest growing ETF ever on Wall Street, however BlackRock’s iShares Bitcoin Trust hit $70B USD in assets under management roughly 5x faster
