Blackrock’s Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World’s Biggest Gold ETF In January?

The iShares Bitcoin Trust ETF (NASDAQ:IBIT) by BlackRock Inc. (NYSE:BLK), which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday.

What Happened: The investment vehicle, which tracks the spot price of the world’s biggest cryptocurrency Bitcoin (CRYPTO: BTC), exceeded $50 billion in assets under management within its debut year, an unprecedented feat in the 30-year history of ETFs, according to Bloomberg.

IBIT clocked the $50 billion mark five times faster than the next quickest ETF, BlackRock’s own iShares Core MSCI EAFE ETF (BATS:IEFA), which took nearly four years to achieve the same milestone, Bloomberg ETF analyst Eric Balchunas stated recently.

Full story available on Benzinga.com