BlackRock Exec Says iShares Bitcoin ETF Launch “Has Gone Incredibly Well,” Surpassing $3.5B in Volume  

Rachel Aguirre, BlackRock US Head of iShares product, has provided insight into the IBIT Bitcoin spot exchange-traded fund (ETF) performance.

In a recent interview with Yahoo Finance, Aguirre disclosed that BlackRock’s iShares Bitcoin Trust has gone incredibly well by every measure since its launch on January 11.

Notably, BlackRock was one of the asset managers that received regulatory approval from the SEC to launch spot Bitcoin ETFs.

?? BlackRock's US Head of ETFs: "By every measure this #Bitcoin ETF launch has gone incredibly well." pic.twitter.com/6BWcawOmCp

— Radar? (@RadarHits) January 24, 2024

BlackRock’s ETF Leads in Volume and Inflows

Although BlackRock ranked behind Grayscale in terms of volume on the first day of trading, Aguirre boasts that IBIT has attracted significant interest in the past week, helping it to rank as the top Bitcoin spot ETF in terms of volume and inflows.

“We’re the number one new issuer [of Bitcoin spot ETFs] both in terms of volume as well as flows. What we are here for is to provide investors access, and that’s exactly what we’re doing,” she added.

According to the head of ETF at BlackRock US, the iShares ETF (IBIT) has done incredibly well in terms of volume, flows, and its current performance in the market. Per Aguirre, over $3.5 billion in IBIT shares have changed hands since its launch, with more than $1.6 billion worth of inflows recorded so far.

As of January 22, Bloomberg reported that newly launched Bitcoin spot-based ETFs have seen an astounding $4.1 billion inflows. Interestingly, BlackRock and Fidelity Investments successfully captured two-thirds of the inflow with their IBIT and FBTC funds.

3 Benefits of BlackRock’s iShares Fund

Furthermore, Aguirre highlighted three benefits the IBIT Bitcoin spot ETF offers investors. She mentioned that IBIT gives investors access, adding that people can now hold the fund alongside other equities and bonds.

Secondly, the BlackRock exec pointed out that the fund offers convenience, helping investors eliminate the risks of holding BTC in their hot and cold wallets.

The last benefit of the IBIT fund, according to Aguirre, is quality. She claims the IBIT fund will also enjoy the same institutional-grade technology and professional risk management given to over 1,300 BlackRock’s ETFs globally.

BlackRock Could Increase Its Number of ETFs

Meanwhile, BlackRock could increase its number of global ETFs with the potential approval of the iShares Ethereum Trust. Recall that the world’s largest manager filed an application for the fund in November 2023.

The deadline for the SEC’s decision on the application is August 7, 2024. However, the SEC could issue a joint decision on the multiple Ethereum spot applications before August 7.