Since January 2024, the world of exchange-traded funds (ETFs) has witnessed a real revolution. With its iShares Bitcoin Trust (IBIT), BlackRock not only shook up the industry, but also broke all growth records ever recorded. In less than 11 months, this Bitcoin ETF has accumulated more than $50 billion in assetseclipsing funds that have existed for decades. A performance which testifies not only to the growing appeal of Bitcoin, but also to a radical transformation in the perception of cryptocurrencies by institutional investors.
Bitcoin: The meteoric rise thanks to the BlackRock ETF
When BlackRock, a global leader in asset management with over $11 trillion under management, launched its Bitcoin ETF, the impact was immediate. This commitment from the financial giant gave Bitcoin unprecedented credibility. In just a few months, the price of BTC crossed the symbolic $100,000 mark, attracting a wave of investors previously reluctant to explore digital assets.
This success, however, has not been without challenges. For nearly a decade, the road to approval of a spot Bitcoin ETF in the United States has been rocky. The first attempts, led in particular by the Winklevoss brothers in 2013, were systematically rejected by the SEC. Grayscale Investments, another key player, waged a fierce legal battle against the regulator, ultimately winning its case in 2023.
It is in this context of regulatory upheaval that BlackRock, under the leadership of Larry Fink – a former Bitcoin skeptic –, made its entry. Once SEC approval was obtained, BlackRock and other giants like Fidelity and VanEck quickly launched their Bitcoin ETFs, reshaping the contours of the digital asset market.
IBIT: A record that redefines the history of ETFs
What sets BlackRock's Bitcoin ETF apart from other funds is its pace of growth. In just 11 months, IBIT accumulated five times more assets than its nearest competitor, a record that took others nearly four years to achieve. This dynamic has eclipsed not only specialized European ETFs, but also the famous BlackRock gold ETF, although considered a benchmark in its field.
The influence of the IBIT goes far beyond just the numbers. By representing more than 50% of daily trading volume on Bitcoin ETFsit played a central role in the 118% surge in the price of BTC in 2024. Additionally, theIBIT became the first Bitcoin ETF to introduce options trading, which quickly established itself as among the most traded on the market, with an average daily volume of $1.7 billion.
This feat illustrates not only the effectiveness of BlackRock as a financial player, but also the growing maturity of the crypto market. By bringing in massive volumes and attracting an institutional audience, IBIT has solidified bitcoin's role as a must-have asset in modern investment portfolios.
The historic success of BlackRock's Bitcoin ETF is not only a milestone for the financial industry, but a strong signal for the future of cryptocurrencies. By breaking all records, the IBIT has proven that Bitcoin is no longer a simple technological curiosity or a speculative asset, but an essential value in global finance. As BTC continues to approach $100,000, its adoption by institutional investors marks a new era where traditional finance and digital assets coexist more harmoniously than ever.
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