BlackRock’s (BLK) spot Bitcoin (BTC) exchange-traded fund (ETF) has $1 billion U.S. of assets under management (AUM) one week after its launch in the U.S.
BlackRock’s Bitcoin fund has become the first among nine similar ETFs to reach the $1 billion U.S. milestone.
The world’s biggest asset manager launched its iShares Bitcoin Trust (IBIT) ETF on Jan.12 after receiving regulatory approval from the U.S. Securities and Exchange Commission (SEC).
In total, spot Bitcoin ETFs have attracted $1.90 billion U.S. of capital since the SEC approved them for American exchanges.
BlackRock’s fund consists 99% of Bitcoin and 1% of fiat, according to market data.
The price of BlackRock’s Bitcoin ETF is currently at $24.41 U.S. per unit, down 11% since it began trading. The fund has an average daily trading volume of 14 million shares.
The price of Bitcoin has fallen nearly 10% since the SEC approved the ETFs on Jan. 10. Bitcoin is now trading at $42,375 U.S.
