Currently, BlackRock has declared it as an investor of 430,770 shares of its spot Bitcoin ETF through the Global Allocation Fund worth approximately $17 million. This is up from approximately 198,874 shares in July and over ten times the 43,000 in first quarter of the financial year. Although rapidly growing in terms of instruments, the IBIT shares represent only 0.1% of the total $16.5 billion in assets of the Global Allocation Fund.
Fund Background
The Global Allocation Fund invests across US and foreign equities, debt, and other securities more frequently readjusted to its assets. Today, reaching into over 3,900 unique ETFs, and so, IBIT ranks among the 35 largest ETFs. This is something which ETF Store CEO, Nate Geraci also worth to mention. Moreover, It has thus outperformed other traditional ETFs including iShares MSCI EAFE ETF as well as Vanguard Total World Stock ETF within only one year of its existence, this highlights its success.
Performance Metrics
Positive net flows post-launch have crossed $ 37 billion, and IBIT has exhibited better numbers than other similar services. Fidelity’s Bitcoin ETF is closely behind with approximately $ 11.8bndollars in capital on its books. The IBIT currently owns around 527,284 BTC, with the current price of at $95,000 dollars per Bitcoin. This means that the fund holds more than $50 billion in Bitcoin assets making it a significant actor in US-traded spot Bitcoin ETFs that surpassed gold ETFs in total AUM.
Investment Growth
Signs of institutional interest in Bitcoin ETFs have now reached a new level which has been highlighted by the greta performance of Bitcoin ETFS in the past year and the BlackRock and Fidelity high amount of BTC holdings.
