{"id":245087,"date":"2024-02-10T21:24:26","date_gmt":"2024-02-10T15:54:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/ark-invest-joins-the-1b-aum-club-crypto-news\/"},"modified":"2024-02-10T21:24:29","modified_gmt":"2024-02-10T15:54:29","slug":"ark-invest-joins-the-1b-aum-club-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ark-invest-joins-the-1b-aum-club-crypto-news\/","title":{"rendered":"Ark Invest Joins the $1B AUM Club – Crypto News"},"content":{"rendered":"

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The spot Bitcoin ETF issued by the duo of ARK Invest and 21Shares has finally joined the list of products with an Asset Under Management (AUM) of $1 billion.<\/span><\/p>\n

The ARK 21Shares Spot Bitcoin ETF Record<\/strong><\/h2>\n

As of February 9, 21Shares took to X announcing that ARKB, its joint spot Bitcoin ETF with ARK Invest, had registered more than $1 billion in its Bitcoin holdings.\u00a0<\/span><\/p>\n

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The asset manager attributed the figure to a growing trend of trust and interest in digital assets. In a screenshot attached to the post on X, certain details about the ARKB market outlook were outlined.<\/span><\/p>\n

The total number of Bitcoins purchased by the duo is approximately 21,455 units, estimated to be $1,021,886,846 based on the current market value of Bitcoin. ARK 21Shares spot Bitcoin ETF has a 5-day average trading volume of $81,777,474 while its average spread within the same period is around 0.035%.<\/span><\/p>\n

With this new AUM amassed by ARK 21Shares, Senior Bloomberg ETF analyst James Seyffart confirmed that ARKB is now the third United States spot Bitcoin ETF to cross the $1 billion threshold.\u00a0<\/span><\/p>\n

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Appears we have a 3rd US spot #Bitcoin<\/a> ETF to cross the $1 billion mark. https:\/\/t.co\/iBtr1iUfrW<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) February 9, 2024<\/a><\/p>\n<\/blockquote>\n

General ETF Market Outlook<\/strong><\/h2>\n

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Unlike ARKB which just hit this mark, BlackRock\u2019s <\/span>IBIT reached $1 billion<\/span><\/a> in assets under management only four days into trading. IBIT became the first spot Bitcoin ETF to clinch the milestone amongst its counterparts that were <\/span>greenlighted by the SEC<\/span><\/a>.\u00a0<\/span><\/p>\n

The volume of inflows that BlackRock has received so far is believed to be a function of its lower sponsor fee as well as its reputation prior to becoming a Bitcoin ETF Issuer.<\/span><\/p>\n

Compared to Grayscale GBTC which has a management fee of about 1.5%, BlackRock\u2019s fee is pegged at just 0.25%.\u00a0<\/span><\/p>\n

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Generally, the Bitcoin ETF ecosystem has had some good days and its numbers show for it. A total net inflow of $541.5 million was <\/span>recorded<\/span><\/a> on February 9, a move suggested to be associated with FOMO \u2013 the Fear of Missing Out. Bitcoin rallied by almost 7% within 24 hours, surpassing $48,000 briefly. Overall, the coin has had a price gain of 12% in this week.<\/span><\/p>\n

At the time of this writing, the flagship cryptocurrency was trading at $47,289.80 with a 0.82% increase in the last 24 hours, cementing its mild uptrend since the start of the month.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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