BlackRock’s Bitcoin ETF becomes third fastest to reach $1 billion in assets, hitting milestone in 4 days Insights BitcoinCrypto EquitiesETFs
BlackRock’s Bitcoin ETF becomes third fastest to reach $1 billion in assets, hitting milestone in 4 days
Bloomberg Senior ETF Analyst Eric Balchunas benchmarked Bitcoin ETFs' swift rise against industry giant MicroStrategy.
Quick Take
Bitcoin ETFs, with just five days of trading under their belts, have already made significant strides in the financial arena. Notably, Fidelity’s FBTC and BlackRock’s IBIT ETFs have swiftly crossed the billion-dollar threshold, managing $1 billion and $1.2 billion in assets, respectively.
Bloomberg’s Senior ETF Analyst, Eric Balchunas, provides a comparative perspective by highlighting that the nine spot Bitcoin ETFs collectively hold about 40% of the Bitcoin assets managed by MicroStrategy, a prominent player in the digital asset investment space, which holds 189,150 Bitcoin.
Balchunas goes on further to say that withinย a pool of approximately 5,000 ETFs, FBTC and IBIT rank among the top 5 in terms of speed to reach the billion-dollar mark, trailing only BITO and GLD. BITO took a record two days to amass $1 billion in assets, followed by GLD in three days, IBIT in four, and FBTC in five, according to Balchunas.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.