BlackRock’s $20 Billion ETF Is Now the World’s Largest Bitcoin Fund (2024)

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BlackRock’s $20 Billion ETF Is Now the World’s Largest Bitcoin Fund? ›

BlackRock's iShares Bitcoin Trust has become the world's largest fund for the world's largest cryptocurrency, racking up nearly $20 billion in total assets since listing in the U.S. in January, Bloomberg News reported on Wednesday.

BlackRock's spot bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has overtaken Grayscale's Bitcoin Trust (GBTC) as the world's largest Bitcoin ETF.

The fund has $18 billion in assets, according to FactSet data, making it the largest bitcoin exchange-traded fund.

BlackRock Inc.'s iShares Bitcoin Trust has become the world's largest fund for the original cryptocurrency, amassing almost $20 billion in total assets since listing in the US at the start of the year.

The fund's holdings consist primarily of Bitcoin, with 99% of its portfolio allocated to the cryptocurrency. This achievement reflects strong user demand and is a testament to the growing interest in regulated and transparent financial vehicles for gaining exposure to bitcoin.

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

This year has seen over 300 new ETFs introduced to the market. Bloomberg ETF analyst Eric Balchunas supported Hougan's view, stating that the advisor allocations for BlackRock's spot Bitcoin ETF represent the highest level of organic inflows for any ETF launched in 2023.

While BTC is volatile, it is safe to invest in provided you use a reliable exchange and wallet! Historically, investors who've held their Bitcoin for the long-term have been rewarded!

The largest holders of Bitcoin include Satoshi Nakamoto, public companies like MicroStrategy and Tesla, institutional investment trusts such as Grayscale, individuals known as “Bitcoin whales,” and even some governments through legal seizures and strategic purchases like the United States and El Salvador.

Is BlackRock ETF a good investment? ›

These top-rated funds from BlackRock make excellent buy-and-hold investments for the long term in 2024 and beyond. With more than $10 trillion in assets under management, BlackRock is the largest asset manager in the world.

No one person or company owns BlackRock. Five institutional investors -- Vanguard, BlackRock, State Street, Bank of America, Vanguard, and Temasek -- own about 25% of the company's stock.

Volatility and Risk

Its higher daily standard deviation (55.59%) compared to Bitcoin (39.57%) indicates that IBIT can experience significant price fluctuations (PortfoliosLab.com). This volatility, coupled with the inherent risks of the cryptocurrency market, makes IBIT a high-risk investment.

BlackRock's ETF becomes largest bitcoin fund in world, Bloomberg News reports. May 29 (Reuters) - BlackRock's (BLK. N) , opens new tab iShares Bitcoin Trust (IBIT.

Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of December 31, 2023.