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BlackRock's Bitcoin ETF Hits $1B AUM in One Week

IBIT’s holdings consist of 99% bitcoin, and nearly $60,000 in fiat, data shows.

By Shaurya Malwa, Ian Allison
AccessTimeIconJan 18, 2024 at 12:51 p.m. UTC
Updated Jan 26, 2024 at 5:36 p.m. UTC
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BlackRock’s (BLK) spot bitcoin (BTC) exchange-traded fund (ETF) hit the $1 billion assets under management mark on Wednesday, becoming the first of the recent cohort of bitcoin ETF providers to hit the milestone.

The asset manager's iShares Bitcoin Trust (IBIT) started trading on Jan.12.

“We are excited to see IBIT reach this milestone in its first week, reflecting strong investor demand,” Robert Mitchnick, Head of Digital Assets at BlackRock said via an email. “This is just the beginning. We have a long-term commitment focused on providing investors access to an iShares quality ETF.”

IBIT’s holdings consist of 99% bitcoin, and nearly $60,000 in fiat, data shows. The fund held 25,067 token per an updated on Thursday.

IBIT closed Wednesday trading at $24.41 and trades at a slight premium of 0.42% relative to spot bitcoin. The fund has recorded an average daily trading volume of 14 million shares so far, the data shows.

Edited by Parikshit Mishra.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Shaurya Malwa
Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Follow @shauryamalwa on Twitter
Ian Allison
Ian Allison

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Follow @IanAllison123 on Twitter

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