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Billions in inflows for BlackRock's iShares Bitcoin Trust
BlackRock CEO pleasantly surprised by Bitcoin ETF growth. Learn more about Larry Fink's development and response to increasing demand. 📈 #BitcoinETF #BlackRockCEO #LarryFink #Cryptoassets
Billions in inflows for BlackRock's iShares Bitcoin Trust
After approving Bitcoin spot ETFs in January, BlackRock's iShares Bitcoin Trust saw huge inflows worth billions of dollars. With $14.92 billion in inflows since SEC approval, the iShares Bitcoin Trust is going strong. This success even pleasantly surprised BlackRock CEO Larry Fink. Despite his positive assessment of Bitcoin's long-term viability, Fink was surprised by the success of the Bitcoin ETF. He called the iShares Bitcoin Trust the fastest-growing ETF in history. Market developments suggest that BlackRock's IBIT may soon overtake Grayscale's GBTC. Due to declining investor interest in its Bitcoin ETF, Grayscale plans to launch a mini Bitcoin ETF with lower fees to remain competitive. Larry Fink highlighted the unexpected retail demand for the Bitcoin ETF and praised IBIT's rapid performance. With a market share of 38.1 percent, BlackRock's iShares Bitcoin Trust could soon be at the top, ahead of Grayscale's Bitcoin Trust.