BlackRock CEO Expresses Pleasant Surprise at iShares Bitcoin Trust Performance
During an interview with Fox Business, BlackRock CEO Larry Fink revealed his excitement at the exceptional performance of his firm’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT).
- Fink noted that IBIT has seen record-breaking growth, becoming the fastest-growing ETF in history with $13.5 billion in flows within its first 11 weeks of trading.
- The ETF has been attracting an average of over $260 million in inflows per trading day, reaching a daily high of $849 million on March 12, based on data by Farside Investors.
BlackRock CEO’s View on Bitcoin and Future of IBIT
Larry Fink expressed his optimism about the long-term prospects of Bitcoin, stating that he is “very bullish on the long-term viability of Bitcoin.” As of March 26, IBIT held over $17.1 billion in Bitcoin, achieving the $10 billion milestone in just two months.
- Among approved ETFs, only the Grayscale Bitcoin Trust holds more Bitcoin than IBIT, with approximately $23.6 billion in BTC.
- Fink also commented on the potential launch of a spot Ether ETF, mentioning that it could proceed even if the SEC classifies ETH as a security.
Market Outlook for Ethereum ETF Approval
Brian Rudick, an analyst at crypto market maker GSR, suggested that there is a 20% chance of the SEC approving a spot Ethereum ETF in May. This prediction comes as interest in Ether ETFs grows, with eight issuers, including BlackRock, having applied for approval from the SEC.
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