In a recent interview, Blackrock’s Ishares US product lead Rachel Aguirre examined the significant inflows seen in the company’s new spot Bitcoin exchange-traded fund (ETF), known as IBIT. Aguirre emphasized that the IBIT ETF has attracted interest from a variety of groups, including “retail investors, self-directed investors and some investors ready to make their first investment.”
Blackrock’s Bitcoin ETF IBIT Names Second Largest Spot Bitcoin ETF in the U.S.
The launch of a new spot Bitcoin exchange-traded fund (ETF) was a significant event, recording a whopping $11.82 billion in trading volume in just four days. Along with Grayscale’s GBTC, one that stands out in this burgeoning field is Blackrock’s IBIT. This fund has emerged as a standout fund in terms of trading volume and holdings. IBIT has already recorded a trading volume of $1.28 billion in its first four days of launch, accounting for 10.82% of the fund’s total trading volume.
In a recent conversation with Bloomberg, Rachel Aguirre, head of U.S. products at Blackrock’s Ishares, shed light on the fund’s recent inflows. She said IBIT is attracting attention from a variety of sectors. “We are seeing interest from retail investors, self-directed investors and some investors who are ready to invest on day one,” she said in an interview. Aguirre also expressed Blackrock’s enthusiasm, noting that the company is “very excited” about investors exploring this new asset category for the first time.
Asked about the model portfolio and the possibility of Blackrock incorporating “an allocation to Bitcoin in the coming weeks and months,” Aguirre smiled and said he could not comment on the matter without giving specifics. Aguirre noted that Blackrock is “focused” on “understanding what the training needs are” for its customers. The company seeks to provide investors with education to support them “along their investment journey.”
The IBIT fund, which ranks second in volume just behind GBTC, currently holds 25,067 BTC, worth just over $1 billion, according to data from the IBIT website. When it comes to Bitcoin ETF spot in the U.S., Blackrock’s ETF holds the second-largest holdings behind Grayscale’s GBTC holdings.
What do you think about Blackrock executives’ comments? What do you think about IBIT’s performance over the last four days of trading? Share your thoughts and opinions on this topic in the comments section below.
Source: Bitcoin.com