According
to a report by Fox Business, data from S&P Dow Jones Indices shows that as of last Thursday morning, the world's largest Bit spot ETF - BlackRock's IBIT - had assets under management exceeding $42 billion, which is considered the fastest growth of any ETF in history. The price of IBIT (ticker: IBIT) has also reached a new all-time high.
The Convenience of ETFs for Investors
A spokesperson for BlackRock, the world's largest asset manager, stated:
"Since its launch, the inflows into IBIT have highlighted investors' preference for the convenience and quality of ETFs to invest in Bit. The market's optimism has been reignited by the expectation of positive regulatory actions on Bit and cryptocurrencies. We remain focused on educating investors and providing convenient, transparent Bit investment channels."
According to the company, IBIT has attracted over $3 billion in assets since the election. The upcoming Trump administration is expected to bring a more crypto-friendly government.
Liquidity in Demand
Bloomberg senior ETF analyst Eric Balchunas pointed out:
"In addition to the continued strong inflows, IBIT's trading volume has also reached a new all-time high. This is undoubtedly an important signal of ample liquidity for investors who need to quickly enter and exit the market."
I thought things were cooling off, but no, $IBIT just saw $5b in Volume today for first time ever. Only 3 ETFs and 8 stocks saw more action today. Up to $13b in 3 days this week. Its peers seeing heightened Volume too but smaller scale. $FBTC did $1b, biggest day since March. pic.twitter.com/9SQP5oPsMM
— Eric Balchunas (@EricBalchunas) November 13, 2024
IBIT Maintains Market Leadership
According to data from SoSoValue, IBIT had a net inflow of over $200 million in a single day, with a cumulative net inflow of nearly $30 billion, and a net asset value of $44.2 billion, more than double the size of Grayscale. With continuous inflows, IBIT has maintained an overwhelming lead in the Bit ETF market.
