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BlackRock’s Bitcoin ETF has surpassed $70 billion in value in less than a year, setting a new record for the fastest ETF growth in history. The iShares Bitcoin Trust (IBIT) reached the milestone in just 341 trading days, beating the previous record of 1,691 days held by the GLD gold fund.
According to data released by Eric Balchunas, senior ETF analyst at Bloomberg, IBIT is now the fastest-growing ETF in history. Other major ETFs, such as IEFA and VOO, reached similar levels in 1,773 and 1,703 days, respectively.
The steady inflow of capital since its inception has made IBIT the top Bitcoin ETF. The fund currently holds 661,457 Bitcoin units, surpassing Michael Silver and Strategy as the largest institutional holder of Bitcoin. The ETF is currently trading at $61.46 per share, up 3.71% in the past 24 hours. 0 reply
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