BlackRock’s Bitcoin ETF Reaches New Milestone Amidst Market Volatility

BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed the $91 billion mark in assets under management (AuM), solidifying its position as a leading player in the U.S. spot Bitcoin ETF market even amidst volatile price swings. IBIT saw a significant influx of net inflows, reaching $58.04 billion by August 13th, reflecting sustained investor interest. Despite recent volatility that pushed Bitcoin’s price below $124,000 earlier this week, the fund closed at a premium to its net asset value, suggesting robust demand within the ETF market.