BlockBeats news, on November 20, according to Fox Business, data from Dow Jones Market Data Group showed that as of Thursday morning, the assets of BlackRock IBIT, the largest Bitcoin spot ETF, reached US$42 billion, an increase of 38% in the past seven days. The move pushed the price of the ETF (ticker IBIT) to all-time highs and is now considered the fastest-growing ETF of all time.
A BlackRock spokesperson said: “IBIT’s inflows since launch highlight investors’ preference for investing in Bitcoin through the convenience and quality of ETFs. Renewed expectations for positive regulatory action on Bitcoin and cryptocurrencies optimism. We remain focused on educating investors and providing convenient and transparent access to Bitcoin.”
IBIT has attracted more than $3 billion in assets since the election, according to the company. The future of Donald Trump in the White House is expected to bring a more pro-cryptocurrency government.