BlackRock\u2019s new spot Bitcoin (BTC<\/a>) exchange-traded fund (ETF) has already crossed $10 billion in assets under management (AUM), according to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.<\/p>\n Balchunas notes<\/a> the asset management giant\u2019s iShares Bitcoin Trust (IBIT) became one of only 52 ETFs out of 3,400 to cross that $10 billion mark.<\/p>\n The Bloomberg analyst says crossing the first $10 billion mark is tough for ETFs because so much of the initial AUM has to come from flows, but adding $10 billion after an ETF has already surpassed that first mark is easier because market appreciation becomes a bigger variable.<\/p>\n The 10 newly approved spot Bitcoin ETFs witnessed $92 million of positive flows on Thursday, according to BitMEX Research<\/a>. IBIT itself saw nearly $604 million worth of positive flows alone, though that was largely counteracted by Grayscale\u2019s GBTC, which witnessed nearly $599 million in negative flows.<\/p>\n Of the 10 new ETFs, Grayscale\u2019s is the only one that isn\u2019t an entirely new product: After the U.S. Securities and Exchange Commission (SEC) issued a flurry of BTC ETF approvals in January, the crypto-focused asset management giant\u00a0converted<\/a>\u00a0its existing flagship product, the Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund listed on the exchange NYSE Arca.<\/p>\n Bitcoin is trading at $62,470 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" BlackRock\u2019s new spot Bitcoin (BTC) exchange-traded fund (ETF) has already crossed $10 billion in assets under management (AUM), according to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence. Balchunas notes the asset management giant\u2019s iShares Bitcoin Trust (IBIT) became one of only 52 ETFs out of 3,400 to cross that $10 billion mark. The […]<\/p>\n","protected":false},"author":2,"featured_media":257911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-257910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=257910"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257910\/revisions"}],"predecessor-version":[{"id":257913,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257910\/revisions\/257913"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/257911"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=257910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=257910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=257910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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