$iShares Bitcoin Trust (IBIT.US)$ In just over a year since its launch, the assets under management have reached 70 billion dollars, creating history.
This ETF from Blackrock achieved this asset scale "milestone" faster than any other ETF in the world. Obviously, in the eyes of many investors, $Bitcoin (BTC.CC)$ it is the "new Gold."
In contrast, the world's largest Gold ETF - $SPDR Gold ETF (GLD.US)$ took over 4.5 years (1691 days) to break through this level.
It is worth mentioning that since its debut in January 2024, $iShares Bitcoin Trust (IBIT.US)$ the Market Cap has already surpassed three times that of similar products.$Fidelity Wise Origin Bitcoin Fund (FBTC.US)$
Future core Assets
As of the time of writing, the Trading price of Bitcoin is approximately 0.1093 million USD, with today's high at one point breaking 0.11 million USD. This surge is partly driven by increased interest from Institutions.
In the past few weeks, IBIT has absorbed Bitcoin worth 2.5 billion USD. Due to continuous purchases, IBIT has accumulated 3.3% of the global Bitcoin supply, which not only makes Blackrock a major player in Bitcoin but also shows the rapid pace at which Institutions are adopting Bitcoin.
Not only Blackrock is taking action, according to blockchain tracker Whale Alert, two massive Bitcoin Trades totaling nearly 0.2 billion USD were discovered being transferred from the U.S. cryptocurrency Exchange Kraken to an unknown wallet. These two Trades consisted of 875 Bitcoins and 997 Bitcoins respectively.
These large-scale Trades often indicate that people are confident in the long-term value of Bitcoin, and suggest that crypto "whales" are holding for the long term. Major players in the market withdraw assets from the Exchange purely for reserves, not for sale. These large transfers, combined with the hype around the ETF and the accelerated price increases, indicate that both retail and institutional investors view Bitcoin as a core asset of the future.
Is investing always stepping on a landmine?Futubull AI is now online!Providing precise answers, comprehensive insights, and grasping key opportunities!
Editor/joryn
