BlackRock’s Bitcoin ETF has $2 billion in assets under management — and is expected to soon surpass GBTC | CoinDesk JAPAN

BlackRock’s iShares Bitcoin ETF (IBIT) became the first Bitcoin (BTC) spot ETF approved in January to reach 2 billion in assets under management (AUM). USD (approximately 296 billion yen, equivalent to 148 yen to the dollar). However, it does not include Grayscale Bitcoin Trust (GBTC), which had nearly $30 billion in AUM when it converted from a closed-end fund to an ETF.

On the 25th, IBIT raised approximately $170 million in funds and purchased approximately 4,300 BTC, bringing its holdings to 49,952 BTC. As Bitcoin price recovered to $40,000 on the morning of the 26th, AUM exceeded $2 billion.

Nate Geraci, president of ETF Store, believes IBIT could soon take over the No. 1 spot.

The next cryptocurrency to cross the $2 billion mark will be Fidelity’s Wise Origin Bitcoin Fund (FBTC). As of January 25, the ETF holds approximately 44,000 BTC.

｜Translation/Editing: CoinDesk JAPAN Editorial Department
｜Image: Shutterstock