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The recent rise in Bitcoin’s value has greatly benefited the iShares Bitcoin Trust ETF (IBIT), which has seen a 38% increase in just one week, achieving its longest winning streak to date.
With $42 billion in assets, IBIT has reached an all-time high and is now considered the fastest-growing ETF, attracting over $3 billion since the election.
The optimism in the market is partly due to expectations of a more pro-crypto administration under President-elect Donald Trump, who has shown support for the industry.
The ETF is also experiencing record trading volumes, reflecting strong investor interest and liquidity.
“The inflows into IBIT since launch underscore investors’ preference to gain exposure to bitcoin through the convenience and quality of an exchange-traded product. The market has seen a renewed sense of optimism in anticipation of positive regulatory action for bitcoin and crypto. We remain focused on education for investors and providing access to bitcoin with convenience and transparency,” a BlackRock spokesperson said.
