One of the most important developments of the year may go down as one of the biggest debuts ever, as BlackRock’s Spot Bitcoin ETF has been called the ‘greatest launch in ETF history’ according to Bloomberg. Indeed, the $11.5 trillion asset manager iShares Bitcoin Trust (IBIT) quickly became one of the firm’s biggest funds.
The product first launched in January alongside ten other Bitcoin-based ETFs. Their arrival marked a shifting tide, as it propelled the leading cryptocurrency into a new realm of prominence. A massive reason for that was BlackRock and the role it took in facilitating that rise.
JUST IN: BlackRock's Spot Bitcoin ETF is the "greatest launch in ETF history," Bloomberg reports.
— Watcher.Guru (@WatcherGuru) December 30, 2024
Also Read: BlackRock’s Spot Bitcoin ETF Surpasses Its Gold ETF
BlackRock Bitcoin ETF May be Greatest Launch Amid BTC’s Rapid 2024 Rise
This year has proven to be a game-changer for the cryptocurrency sector. The asset class has gone from the finance option of the future to a present investment option for traders. Moreover, Bitcoin has continued to lead the way, becoming the first crypto to surpass a $100,000 price this year.
A huge part of its success can be derived from BlackRock’s Bitcoin ETF, which is now being called the ‘greatest ETF launch in history.” Less than 12 months after its arrival, the product has outperformed the asset manager’s 1,400 exchange-traded funds operating globally.
Also Read: BlackRock Says Up To 2% Bitcoin Allocation is ‘Reasonable Range’
BlackRock’s IBIT has shattered various records throughout its first year. Specifically, it has surged to more than $50 billion in assets over eleven months. That performance has exceeded any ETF debut that has come before it. Moreover, it is unlikely that any future arrival will be able to compete.
Bloomberg notes that IBIT has reached an equivalent size to “the combined asset under management of more than 50 European market-focused ETFs” in its first year. Moreover, those funds have been around for more than 20 years.
Analyst James Seyffart noted that IBIT’s growth trajectory is “unprecedented.” Additionally, he noted that it reached most milestones “faster than any other ETF in any asset class.” Altogether, IBIT can expect to earn $112 million a year, the analysts added.