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International Business Times
International Business Times
Business
Nica Osorio

BlackRock's iShares Bitcoin Trust Surges: Bags Over 11K BTC in Record Time Of 48 Hours

Bitcoin BlackRock United States ETF IBIT Nasdaq SEC

KEY POINTS

  • BlackRock's iShares Bitcoin Trust (IBIT) swiftly accumulated over 11,000 BTC, valued at nearly $500 million, within 48 hours of its Nasdaq debut
  • This acquisition by BlackRock equates to roughly 13 days' worth of Bitcoin production
  • Bitcoin was trading down at $42,451.25 as of 2:55 p.m. ET on Sunday

iShares Bitcoin Trust (IBIT), the spot Bitcoin exchange-traded fund (ETF) from world's largest asset manager BlackRock, has quickly amassed over 11,000 bitcoins (BTCs), currently valued at nearly $500 million, within just 48 hours of its debut on the Nasdaq stock exchange.

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