On the first trading day, the 11 newly approved Spot Bitcoin ETF trading volume surpassed $4.5 billion. Indeed, the investment product proved to be a massive success. Yet, just how much of the digital asset does its most prominent issuer maintain? Well, let’s answer how much Bitcoin BlackRock’s Spot Bitcoin ETF holds.
The asset manager issued one of the several approved Spot Bitcoin ETFs that began trading on Thursday morning. Moreover, with the approvals, the US Securities and Exchange Commission (SEC) ended more than a decade-long trend of rejections.
Also Read: Ethereum: BlackRock CEO Larry Fink Sees Value in ETH ETF
BlackRock’s Spot Bitcoin ETF Holdings
For many of 2023’s final months, the digital asset sector anxiously awaited what could be history in the making. Indeed, all signs pointed to the first-ever Spot Bitcoin ETF approval in the United States. Thereafter, just ten days into the new year, the SEC greenlit a plethora of applications to bring the investment vehicle to market.
Following approval on Wednesday evening, all 11 issuers were ready to go on Thursday morning. Among them was the most prominent asset management firm on the planet, BlackRock, listed on the Nasdaq exchange. Their iShare Bitcoin Trust was expected to be a massive performer of all issuers,
Also Read: BlackRock Cuts Its Spot Bitcoin ETF Fee To 0.25%
Following just over one trading day for the newly approved investment product, BlackRock now has 2,620 BTC worth more than $120 million for its Spot Bitcoin ETF. Indeed, the asset management firm iShares Bitcoin Trust had an undoubtedly successful inaugural day. However, the hype should continue to increase that figure in the coming days.
BlackRock CEO Larry Fink appears to be profusely professing his support of the digital assets rise to prominence. In a recent interview with CNBC, he likened it to Gold, in that it is an asset that protects you.
Moreover, Fink appears to be encouraged to expand the management firm’s digital asset footprint. Specifically, he expressed value in potentially bringing to market a Spot Ethereum ETF. Currently, the Bitcoin ETF development has been tremendously positive for nearly all issuers across the board.