Investment giant BlackRock was the first to attract $1 billion in investment after launching a Bitcoin ETF. This is reported by Reuters.
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The company achieved this result in 4 trading days, After the US Securities and Exchange Commission (SEC) approved 11 applications for Bitcoin ETFs from various companies.
BlackRock and Fidelity have received the largest influx of investors since the launch of spot exchange-traded funds.
According to JPMorgan, as of Jan. 17, BlackRock had amassed $1.07 billion in assets under management, followed by Fidelity with $874.6 million. Nine newly launched ETFs attracted $2.90 billion in investment in the first four days of trading.
At the same time, the Grayscale Bitcoin Trust, converted from a closed-end fund to an ETF, charges the highest fees compared to recently launched ETFs and has seen an outflow of $1.62 billion in the first four days.