BlackRock’s BTC ETF Records Massive Milestone

BlackRock's iShares Bitcoin Trust (IBIT) has surpassed $20 billion worth of assets under management just six months after its launch.

Nate Geraci, president of the ETF Store, claims that investors and institutional investors are "clearly" showing up to the party based on the recent streak of inflows.

On July 16, IBIT logged $260 million worth of fresh inflows. Fidelity Wise Origin Bitcoin Fund (FBTC) came in a distant second place with $61 million worth of inflows.

Overall, spot Bitcoin ETF products saw more than $422 million worth of inflows on Thursday.

Meanwhile, the price of the leading cryptocurrency has reclaimed the $66,000 level.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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