BlackRock's IBIT Extends Dominance in Bitcoin Spot ETF Trading

IconCryptoNewsTerminal Staff26 Jul, 2024

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BlackRock's IBIT Extends Dominance in Bitcoin Spot ETF Trading

BlackRock's iShares Core MSCI Total International Stock ETF (IBIT), a popular bitcoin spot ETF, has further solidified its market dominance. According to data from The Block, IBIT accounted for a significant 67% share of the weekly trading volume for bitcoin spot ETFs, surpassing its previous high of 61%. This surge in market share is a clear indicator of IBIT's growing popularity among investors seeking exposure to bitcoin through regulated investment vehicles. The ETF provides investors with a convenient and cost-effective way to gain exposure to the world's largest cryptocurrency without the complexities associated with owning and storing the asset directly. IBIT's success is attributed to a number of factors, including its low expense ratio, diversification benefits, and the backing of BlackRock, a trusted and well-established investment management firm. As institutional adoption of bitcoin continues to gain momentum, IBIT is well-positioned to benefit from the growing demand for bitcoin exposure.

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