BlackRock’s IBIT spot Bitcoin exchange-traded fund crossed 250,000 BTC in assets under management on Wednesday, just 11 weeks after trading began on Jan. 11.
Speaking to Fox Business' Charlie Gasparino and Liz Claman on Wednesday, BlackRock CEO Larry Fink said, "IBIT is the fastest-growing ETF in the history of ETFs," adding that he was surprised how much bitcoin had gone up.Meanwhile, Fidelity’s FBTC crossed the $10 billion assets under management threshold yesterday — equivalent to more than 143,000 BTC, according to The Block’s data dashboard.
In comparison, assets held by Grayscale’s converted GBTC fund have fallen by 45% from around 619,000 BTC to around 340,000 BTC in the same period.Net inflows into the spot Bitcoin ETFs continued their rebound on Wednesday, adding $243.4 million after witnessing net outflows totaling around $890 million last week, per BitMEX Research.
Grayscale’s higher-fee GBTC fund continued its substantial outflow streak, shedding a further $299.8 million to reach $14.7 billion in total outflows.
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