IBIT, the bitcoin ETF, has 776,474 BTC under management.
The performance of the bitcoin ETF since its launch was surprising for the company.
The iShares Bitcoin Trust (IBIT), a bitcoin (BTC) exchange-traded fund (ETF) managed by BlackRock, has established itself as the one that generates the largest volume of income for the company, a fact that has surprised even its directors.
Cristiano Castro, director of business development at BlackRock in Brazil, pointed out that IBIT’s performance has exceeded the firm’s most optimistic expectations.
Since its launch in January 2024, IBIT demonstrated exceptional performance, a phenomenon that Castro described as unexpected, mentioning that it approached $100 billion in capital allocation.
This dizzying growth has positioned IBIT as the largest bitcoin ETF in the world in just five months, as reported by CriptoNoticias.
The IBIT fund has maintained its momentum despite the recent volatility experienced by the bitcoin price, underscoring strong institutional demand. At the moment, the ETF has under management 776,474 BTCwhich represents an approximate value of 70.7 billion dollars and constitutes more than 3% of the total supply of the crypto asset.
This success is largely attributed to BlackRock’s strong global distribution network, as well as institutional interest catalyzed by the regulatory approval of spot bitcoin ETFs in the United States.
Regarding the recent capital outflows observed in IBIT, which coincided with a correction in the price of bitcoin, the BlackRock manager indicated that these movements are inherent to the nature of the product, stating that ETFs are “very liquid and powerful” instruments, designed precisely to allow investors to allocate their capital and manage their cash flows efficiently.