The iShares Bitcoin Trust ETF (NASDAQ:IBIT) by BlackRock Inc. (NYSE:BLK), which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday.
What Happened: The investment vehicle, which tracks the spot price of the world’s biggest cryptocurrency Bitcoin (CRYPTO: BTC), exceeded $50 billion in assets under management within its debut year, an unprecedented feat in the 30-year history of ETFs, according to Bloomberg.
IBIT clocked the $50 billion mark five times faster than the next quickest ETF, BlackRock’s own iShares Core MSCI EAFE ETF (BATS:IEFA), which took nearly four years to achieve the same milestone, Bloomberg ETF analyst Eric Balchunas stated recently.
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