During an interview with Fox Business, BlackRock CEO Larry Fink revealed his excitement at the exceptional performance of his firmโs 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 CEOโs View on Bitcoin and Future of IBIT
Larry Fink expressed his optimism about the long-term prospects of Bitcoin, stating that he is โvery bullish on the long-term viability of Bitcoin.โ 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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