BlackRock Discloses New Position in IBIT

IBIT's daily trading volume surpassed $5 billion on Wednesday

In a recent SEC filing, BlackRock, the world's largest asset manager, disclosed that it had purchased 2,535,357 shares of iShares Bitcoin Trust ETF (IBIT) valued at $91.6 million.

SoSoValue data shows that BlackRock's IBIT attracted $230 million worth of inflows on Wednesday.

According to analyst Eric Balchunas, the red-hot ETF product logged $5 billion in daily trading volume yesterday, setting a new record. Notably, only three ETFs saw more trading activity on Wednesday.

Following the most recent update, BlackRock's IBIT is now inching closer to $30 billion worth of cumulative inflows. Its total net assets currently stand at $42.56 billion.

BlackRock first disclosed its intention to add IBIT exposure to other funds back in March.

The record-shattering product was launched back in January.

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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BlackRock Discloses New Position in IBIT

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