BlackRock CEO Larry Fink was “very optimistic” about Bitcoin’s long-term viability as his Bitcoin Spot ETF (BTC) passed the $17 billion mark.
Outstanding performance by the IBIT ETF
Larry Fink said he was “pleasantly surprised” by the performance of his company’s Bitcoin Spot ETF, stressing that he is “very optimistic” about Bitcoin’s long-term viability. IBIT is the fastest-growing ETF in ETF history, with flows of $13.5 billion in the first 11 weeks of trading.
Rapid growth in assets
IBIT has reached $17.1 billion in Bitcoin, according to BitMEX Research, and took just two months to reach $10 billion, a milestone that the first gold ETF took two years to reach. Among currently approved ETFs, IBIT is second only to Grayscale Bitcoin Trust in terms of Bitcoin holdings.
Outlook for the future
Larry Fink pointed out that the creation of a market with greater liquidity and transparency has been a pleasant surprise. He also mentioned that BlackRock’s ETF seems to be outperforming Grayscale’s, and he believes in the potential for further growth. IBIT’s Bitcoin spot ETF recorded the highest daily inflow and trading volume, demonstrating growing investor interest in the cryptocurrency market.
Conclusion
BlackRock CEO Larry Fink expresses optimism about Bitcoin’s long-term viability as the company’s Bitcoin Spot ETF experiences exceptional growth, surpassing $17 billion in assets. This remarkable performance positions IBIT as one of the leading players in the Bitcoin ETF market, with promising growth prospects for the future.
