BlackRock’s Bitcoin Trust Reaches New Milestone in ‘Uptober’ Rally

October, often dubbed ‘Uptober’ by crypto traders, is seeing a strong performance for Bitcoin-based exchange-traded funds (ETFs). The month has already seen a substantial rise, driven by record highs for the asset itself. BlackRock’s iShares Bitcoin Trust (IBIT) stands out as one of the biggest beneficiaries of this rally, pulling in over $1 billion in just three trading days. This surge propelled IBIT to the top 10 most-traded ETFs in the U.S. And its assets under management (AUM) also rebounded above $90 billion, placing it among the top 20 U.S. ETFs.