The company has seen a massive increase in sales since its regulatory approval was granted back in January. BlackRock’s Spot Bitcoin ETF The value of net assets has now surpassed 23 billion dollars, after a 20% increase in the latest Q3. In fact, this product has seen a significant rise in value, with one of the most successful trading days the past year.
The success of the company’s most recent products has been largely attributed to Donald Trump’s Return to the White House is imminent. Trump, who won the presidential election in 2024, pushed Bitcoin up to an all-time record high of $76,000 on Thursday. BlackRock’s Bitcoin ETF also saw $1.1billion inflows, its best day to date.
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The BlackRock Bitcoin ETF keeps on soaring: It hits $23 billion mark amid record day
The year 2024 has always been a significant one for the crypto sector. The year has turned out better than anybody could have imagined. Two crypto-based exchange traded funds (ETFs) were approved by the United States throughout this year. Bitcoin has set a new price record not just once but also twice and three times in the past ten months.
Its various investment products have also performed well. BlackRock’s Bitcoin ETF has exceeded $23 Billion in Net Assets after a 20% rise throughout Q3. In fact, the iShares Bitcoin Trust (IBIT) Since its debut in January, has been a huge success.
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The fund currently holds over 367.800 BTC, worth $21 billion. A recent filing reveals that as of the September end, the fund had unrealized gains of $1.8 billion. BlackRock BTC ETF sold only 0.28% its Bitcoins since it was issued. This is the tactic used to cover redemption of shares, proving that investors are already loyal to this product.
The results of the elections in 2024 will only make its success even more spectacular. It set two new daily records for the product on the 6th of November, when the results were announced. In particular, the product had exceeded $1 billion per day in trading volumes. This record was achieved within the first twenty minutes of the trading session.
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Source: watcher.guru
