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BlackRock's iShares Bitcoin Trust (IBIT) became the world's largest Bitcoin spot ETF

On May 28, 2024, BlackRock's iShares Bitcoin Trust (IBIT) became the world's largest Bitcoin spot ETF, surpassing Grayscale's Bitcoin Trust (GBTC). IBIT recorded inflows of over $102 million, while GBTC experienced outflows of $105 million. This shift occurred in less than 100 trading days, highlighting BlackRock's rapid growth in the Bitcoin ETF market. The total net inflow for Bitcoin spot ETFs on May 28 was $45.14 million, marking the 11th consecutive day of inflows. This development underscores the increasing institutional interest in Bitcoin ETFs and the evolving dynamics of the cryptocurrency investment landscape.

Published on: May 29, 2024 11:55:49

Formatted Date: November 5, 2024 23:26:39

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