Crypto
Ishares' IBIT ETF Soaks Up Nearly Half Billion as Bitcoin Rally Accelerates
Ishares' IBIT ETF has attracted nearly half a billion dollars in new investments as Bitcoin's price rally accelerates.
The fund, which offers spot exposure to Bitcoin, drew $453.96 million on September 4, pushing its assets under management to approximately $63.89 billion.
This influx of capital accounts for about 0.71% of the fund's AUM, a significant allocation shift in a single day for a mature product like IBIT.
The related Bitcoin asset, BTC-USD, is currently trading at around $79,904.54 after a 29.27% gain over the past three months, indicating a strong rebound in crypto market sentiment.