News - BlackRock manages Bitcoin worth $10 billion

By Ted Maas

BlackRock manages Bitcoin worth $10 billion

Bitcoin (BTC)
ETF
Bull run
BlackRock beheert Bitcoin ter waarde van 10 miljard dollar

Bitcoin continues to break records: BlackRock's iShares Bitcoin Trust (IBIT) has captured the ETF market in just seven weeks.

At the end of the trading day the day before yesterday, BlackRock was managing $10 billion in Bitcoin. This is confirmed by information on the website of the iShares Bitcoin Trust (IBIT), the asset manager's BTC spot ETF. BlackRock has thus broken a record: IBIT is the fastest ETF to reach $10 billion in assets under management.

Moreover, while IBIT accounts for only 0.2 percent of BlackRock's ETF offerings, it accounted for about 42 percent of net inflows in 2024. Since its launch on Jan. 11, BlackRock has withdrawn about 162,697 BTC from the market, according to data from BitMEX Research.

If the trend continues, the scenario of a demand shock is quite realistic - also in view of the upcoming halving. Incidentally, the company founded by Larry Fink manages Bitcoin only indirectly. The actual coins are kept under lock and key at the U.S. exchange Coinbase.

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