BlackRock Is Quietly Taking Over Crypto

On January 11th, 2024, BlackRock launched a Bitcoin ETF that almost nobody on Wall Street believed would matter. 435 days later, that single product crossed $100 billion in assets, becoming the fastest ETF in financial history to ever hit that mark, beating SPDR Gold Shares by more than 3 years. Today, IBIT sits at 65.77% billion in AUM and commands 66.4% of the entire spot Bitcoin ETF [music] market, dwarfing Fidelity's FBTC at 14.17% billion by nearly 5:1.But, here's the part the headlines have almost ent ...