The
BlackRock
iShares
Bitcoin
ETF
(IBIT)
on
Friday
became
the
first
of
the
recently
launched
spot
bitcoin
products
to
reach
$2
billion
in
assets
under
management
(AUM).
This
doesn’t
include
Grayscale’s
GBTC,
which
had
nearly
$30
billion
in
AUM
at
the
time
of
its
conversion
from
a
closed-end
fund
to
a
spot
ETF.
Investors
added
about
$170
million
to
IBIT
on
Thursday,
with
the
fund
purchasing
nearly
another
4,300
bitcoin
(BTC),
pushing
total
tokens
held
to
49,952.
With
the
price
of
bitcoin
rising
well
above
the
$40,000
level
early
Friday,
that
brought
AUM
to
above
$2
billion.
Now
with
over
$2
billion
in
AUM,
the
fund
ranks
third
in
asset
gathering
among
all
of
the
more
than
600
ETFs
that
launched
in
the
past
year,
noted
ETF
Store
president
Nate
Geraci,
who
believes
IBIT
could
soon
take
over
the
crown
as
number
one.
The
next
fund
to
cross
the
$2
billion
mark
is
likely
to
be
Fidelity’s
Wise
Origin
Bitcoin
Fund
(FBTC),
which
held
just
shy
of
44,000
bitcoin
as
of
Jan.
25.