- BlackRock’s iShares Bitcoin Trust ETF (IBIT) has made an impressive start by gaining nearly 25% before market hours on Nasdaq.
- BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund recorded an increase of over 25%, trading at $27.50 before market hours on January 11th.
- Dominik Rohe, the head of BlackRock’s U.S. iShares ETF and Index Investment Business, said, ‘Through IBIT, investors can access Bitcoin cost-effectively and conveniently.’
BlackRock’s spot Bitcoin ETF, set to launch today, gains a 25% value before market openings. Here are the details!
IBIT Share by BlackRock is Appreciating
Following the approval by the U.S. Securities and Exchange Commission (SEC) for the listing and trading of a spot Bitcoin ETF, BlackRock, the largest asset manager, has made an impressive start with its iShares Bitcoin Trust ETF (IBIT), gaining nearly 25% before market hours on Nasdaq. Experts anticipate significant inflows into Bitcoin ETFs from the first day.
BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund recorded an increase of over 25%, trading at $27.50 before market hours on January 11th. The net asset value (NAV) of BlackRock’s spot Bitcoin ETF was $26.12 on the approval date. Bloomberg predicts that up to $4 billion could flow into spot Bitcoin ETFs on the first day, with BlackRock potentially capturing nearly $2 billion directly.
BlackRock’s spot Bitcoin ETF is now live on the iShares website, Nasdaq, and the Aladdin investor platform with 175,000 users. BlackRock announced that it would reduce the fee to 0.25% and waive a portion of the fee for the first 12 months. Therefore, the fee will be 0.12% of the net asset value (NAV) for the first $5 billion of the fund’s assets.
BlackRock provides low-cost Bitcoin access
Dominik Rohe, the head of BlackRock’s U.S. iShares ETF and Index Investment Business, said, ‘Through IBIT, investors can access Bitcoin cost-effectively and conveniently.’ BlackRock’s spot Bitcoin ETF will help investors, from asset managers to financial advisors, overcome some barriers and operational burdens that have deterred them from direct Bitcoin investment.
