BlackRock’s $20 Billion ETF Is Now the World’s Largest Bitcoin Fund

Source: Yahoo! Finance

“BlackRock Inc.’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing almost $20 billion in total assets since listing in the US at the start of the year. The exchange-traded fund held $19.68 billion of the token Tuesday, dethroning the $19.65 billion Grayscale Bitcoin Trust, data compiled by Bloomberg show. The third largest is the $11.1 billion offering from Fidelity Investments. The BlackRock and Fidelity Bitcoin ETFs were among nine that debuted Jan. 11, the same day the more than decade-old Grayscale vehicle converted into an ETF. The launches were a watershed for crypto, making Bitcoin more accessible to investors and spurring a rally in the token to a record $73,798 in March.” (05/29/24)