Price of world’s largest cryptocurrency topped $70,000 on Friday
BlackRock’s bitcoin exchange-traded funded has reached $10bn faster than any US ETF in history, fuelled by a rally that continues to send the world’s largest cryptocurrency to record heights. BlackRock’s iShares Bitcoin Trust needed less than two months from its January 11 launch to reach that landmark, beating Invesco QQQ’s record of just over a year, according to Morningstar.
’s total assets now sit at around $12.7bn, a combination of bitcoin’s appreciation and more than $7bn in net inflows. and the other nine spot bitcoin ETFs to which the Securities and Exchange Commission gave the green light on January 11 have been buoyed by a rally that sent the price of bitcoin over $70,000 on Friday, setting a new high before settling around $68,500 as of Friday afternoon. The 10 spot bitcoin ETFs earned net inflows of about $7bn combined from their mid-January launch through the end of February, including $8.5bn that investors have withdrawn from the $27.
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