BlackRock Plans to Acquire Spot Bitcoin ETPs for Its Global Allocation Fund
(Jim Henderson, modified by CoinDesk)
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(Jim Henderson, modified by CoinDesk)
U.S.-listed spot bitcoin ETFs had their busiest day ever on Tuesday as bitcoin’s run for all-time high price turned into a bloodbath, the price tumbling more than 10% after hitting a record above $69,000.
Outflows from Grayscale’s bitcoin fund GBTC spiked Thursday, but inflows into U.S.-listed spot bitcoin ETFs remained positive, led by another strong day for BlackRock’s ETF.
BlackRock’s iShares Bitcoin Trust ETF (IBIT), by far the most successful of the 10 spot bitcoin exchange-traded funds, started trading on the Brazilian stock exchange B3, the company said. The asset manager announced the expansion on Thursday.
BlackRock’s bitcoin ETF (IBIT) surpassed $1 billion in trading volume Thursday for the fourth consecutive day.
U.S. spot bitcoin {{BTC}} exchange-traded funds (ETF) experienced another massive trading session Wednesday with BlackRock’s bitcoin ETF (IBIT) breaking its volume record for the third consecutive day.
Spot bitcoin ETFs had their best day since their debut on Monday, recording $2.4 billion in daily trading volume coupled with strong inflows.
Excluding Grayscale’s Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live.
Excitement was high about one month ago, when TradFi once again got the regulatory go-ahead to launch an entirely new investment vehicle for crypto. The process of bringing to the U.S. market a spot bitcoin ETF took more than a decade, but on Jan. 11, 10 such products finally began trading. It’s been a hell of a ride since.
Bitcoin climbed over $46,000 for the first time in nearly a month early Friday, extending its gain for the week to nearly 10%.