BlackRock 'gaga' over spot bitcoin fund that accounts for 24% of firm's total ETF flows: analyst

Bloomberg Senior ETF Analyst Eric Balchunas is convinced BlackRock is thrilled with the success of its spot bitcoin ETF, ticker IBIT, and backed up his assertion with some compelling data.

Fink is CEO of BlackRock, the world's largest asset manager. Balchunas, who analyzes ETFs for Bloomberg, has established himself as one of the most vocal commentators weighing in on the crypto-based spot bitcoin ETFs, which launched in the U.S. earlier this year. The IBIT exchange-traded fund is second only to Grayscale's fund in terms of AUM. Grayscale's ETF, however, is a converted product that launched with tens of billions of dollars in AUM.

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