BlackRock Makes Huge Bet on Bitcoin: $91.6 Million Investment in IBIT ETF

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BlackRock, the world’s biggest asset manager, has just dropped $91.6 million into the iShares Bitcoin Trust ETF (IBIT), buying over 2.5 million shares. This move comes as IBIT experiences a massive surge in popularity, attracting $230 million in just one day and breaking records with $5 billion in daily trading volume. With total assets now nearing $43 billion, IBIT is on a clear upward trajectory, and BlackRock’s strategic push into Bitcoin is making waves. Since its launch in January, the ETF has been on a roll, with BlackRock’s exposure to it growing rapidly since the firm announced its intentions back in March.