Larry Fink, Chairman and CEO of BlackRock, recently stated that his Bitcoin spot ETF, iShares Bitcoin Trust (IBIT), has become the fastest-growing exchange-traded fund in the history of the spot market.
In an interview with Fox Business, BlackRock’s CEO has highlighted the importance of spot ETFs in Bitcoin’s viability as an investment asset, highlighting the rapid growth of its exchange-traded fund, which has managed to attract more than $13.000 billion in inflows and accumulate more than 250.000 BTC in less than three months since its listing.
According to Fink's statements, Bitcoin spot ETFs have Improved liquidity and transparency of operations cryptocurrency, facilitating investor entry and participation and improving confidence in the crypto market, in general.
Fink further noted that thanks to the impressive demand and growth of Bitcoin ETFs, he has become quite optimistic about the long-term viability of Bitcoin. He emphasized that he would never have predicted the massive adoption that the cryptocurrency is experiencing by investors in the traditional market as it is happening now.
“I was pleasantly surprised, and I would never have predicted before we introduced it, that we would see this kind of retail demand,” Fink said during the interview.
IBIT is exceeding expectations
At a time when Bitcoin ETFs continue to experience massive demand, BlackRock's CEO stressed that its exchange-traded fund has exceeded all expectations, growing exponentially in just a few months. This has been thanks to the growing demand that investors have for Bitcoin, which has become a potential store of value and protection against economic uncertainty and inflation.
With his words, Fink has once again recognized Bitcoin as a legitimate investment asset, which offers a great opportunity for growth and innovation for its investors.
As noted by Bitcoin Magazine, the words of Larry Fink, one of the world's top billionaires and the man behind the world's largest investment asset manager, They carry weight and can significantly influence decision making. from many investors.
IBIT holds more than 250.000 BTC in reserves
New Bitcoin investment funds, including IBIT, have attracted billions of dollars in investment capital in less than three months.
These funds were approved by the United States Securities and Exchange Commission (SEC) on January 10 and began trading on the stock markets on the 11th. However, despite having been listed for a short time, spot Bitcoin ETFs have reached More than 514.000 BTC in reserve assets, with a US dollar valuation of over $35.800 billion. Of these bitcoins, 252.011 BTC are held in BlackRock's investment fund, according to data from the Bitcoin Treasuries platform.
At the time of writing, the value of Bitcoins in reserve on BlackRock’s IBIT stands at $17.560 billion and represents 1,2% of all Bitcoin units that will enter circulation on the market over the next century.
Continue reading: Hong Kong to authorize in-kind reimbursement model in Bitcoin ETFs, according to Bloomberg
Main image from The Globe and Mail
