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Since January 2024, the world of exchange-traded funds (ETFs) has witnessed a true revolution. With its iShares Bitcoin Trust (IBIT), BlackRock has not only disrupted the sector but has also broken all records for growth ever recorded. In less than 11 months, this Bitcoin ETF has accumulated over 50 billion dollars in assets, eclipsing funds that have existed for decades. A performance that demonstrates not only the growing appeal of Bitcoin but also a radical transformation in the perception of cryptocurrencies by institutional investors.
Bitcoin: The meteoric rise thanks to BlackRock’s ETF
When BlackRock, the global leader in asset management with over 11 trillion dollars under management, launched its Bitcoin ETF, the impact was immediate. This commitment from the financial giant offered Bitcoin unprecedented credibility. In just a few months, the price of BTC crossed the symbolic threshold of 100,000 dollars, attracting a wave of investors who had previously been reluctant to explore digital assets.
However, this success has not been without challenges. For nearly ten years, the road to approval for a spot Bitcoin ETF in the United States has been fraught with obstacles. The initial attempts, notably led 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 achieving victory in 2023.
It is in this context of regulatory upheaval that BlackRock, under the leadership of Larry Fink – a former skeptic of Bitcoin – made its entry. Once the SEC’s approval was obtained, BlackRock and other giants like Fidelity and VanEck quickly launched their Bitcoin ETFs, thereby redefining 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 growth rate. In just 11 months, the IBIT has accumulated five times more assets than its closest competitor, a record that took nearly four years to be reached by others. This momentum has eclipsed not only specialized European ETFs but also BlackRock’s famous gold ETF, which was once considered a benchmark in its field.
The influence of the IBIT far exceeds mere numbers. Representing over 50% of the daily trading volume of Bitcoin ETFs, it played a central role in the 118% surge in BTC price in 2024. Additionally, the IBIT became the first Bitcoin ETF to introduce trading options, which quickly established themselves as among the most traded in the market, with an average daily volume of 1.7 billion dollars.
This achievement illustrates not only BlackRock’s effectiveness as a financial player but also the growing maturity of the crypto market. By bringing in massive volumes and attracting an institutional audience, the IBIT has solidified Bitcoin’s role as a critical asset in modern investment portfolios.
The historic success of BlackRock’s Bitcoin ETF is not just 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 just a technological curiosity or a speculative asset, but an essential value in global finance. As BTC continues to hover around 100,000 dollars, its adoption by institutional investors marks a new era where traditional finance and digital assets coexist more harmoniously than ever.
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Fasciné par le bitcoin depuis 2017, Evariste n’a cessé de se documenter sur le sujet. Si son premier intérêt s’est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l’état du secteur dans son ensemble.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
