Odaily News Eric Balchunas, an ETF analyst at Bloomberg, said that BlackRock's Bitcoin ETF, IBIT Fund (the largest of its kind), exceeded $70 billion in assets in just 341 trading days, becoming the fastest ETF to reach this milestone, five times faster than the previous record holder GLD (1,691 days). GLD is the SPDR Gold Trust, which was listed on the New York Stock Exchange in November 2004 and is the world's largest physically-backed gold ETF, with approximately $100 billion in assets under management.
BlackRock will launch its spot Bitcoin ETF in January 2024. According to Arkham Intelligence data, in April this year, BlackRock's fund held 2.8% of the total supply of Bitcoin. The asset management company holds Bitcoin on behalf of its clients, but does not own the cryptocurrency itself. (The Block)