IBIT set to be fastest ever ETF to $100 billion
With $97.8 billion in net assets amassed in just 435 days, IBIT is on track to surpass Vanguard’s S&P 500 index fund (VOO) and become the first ETF to cross $100 billion, Balchunas noted. VOO reached $100 billion in 2,011 days (around 5.5 years).
BlackRock is exploring a new way to make revenue from Bitcoin
BlackRock filed to register a Delaware trust company for its proposed Bitcoin Premium Income ETF late last month, signaling a push to broaden its Bitcoin offerings.
BlackRock’s proposed product would sell covered call options on Bitcoin futures, collecting premiums to generate yield.
Related: Harvard endowment invests $116M into BlackRock Bitcoin ETF
The regular distributions would, however, trade away potential upside from investing in IBIT, which mirrors Bitcoin’s price movements.
Balchunas said the move indicated that BlackRock would continue to propose products tied to Bitcoin and Ether (ETH) and not join the altcoin ETF frenzy that other asset managers are seeking to offer — at least for now.
The US Securities and Exchange Commission has paused reviews on crypto ETF applications until the federal government reopens.
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