BlackRock Spot Bitcoin ETF (IBIT) Soars 25% in Pre-Market Hours
Top asset manager BlackRock’s iShares Bitcoin Trust ETF (IBIT) soared nearly 25% in pre-market hours on Nasdaq after the U.S. Securities and Exchange Commission (SEC) gave the green light to Bitcoin ETF listing and trading. It debuted with a big bang. Experts predict a massive inflow into Bitcoin ETFs from day one.
BlackRock Spot Bitcoin ETF Increased 25%
BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund is trading at $27.50, up over 25% in pre-market hours on January 11. BlackRock spot Bitcoin ETF net asset value (NAV) was $26.12 at the time of approval.
Bloomberg predicts that $4 billion could flow into spot Bitcoin ETFs on the first day, while BlackRock will get about $2 billion in direct inflows.
BlackRock spot Bitcoin ETF is live on iShares website Nasdaq and 175,000 Aladdin investor platforms following listing. BlackRock announced it would reduce the fee to 0.25% and waive part of the fee for the first 12 months. Therefore, the fee will be 0.12% of the net asset value (NAV) of the first $5 billion of the Foundation’s assets.
“Through IBIT, investors can access Bitcoin in a cost-effective and convenient way,” he said. Dominik Rohe, head America iShares ETF and Index Investing business at BlackRock.
The BlackRock spot Bitcoin ETF will help eliminate some of the barriers and operational burdens that prevent investors from asset managers to financial advisors from investing directly in Bitcoin.
Also Read: Bitcoin ETF Live Updates – US SEC Approves All 11 Spot Bitcoin ETFs, What’s Next?
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with CoinGape Media. He currently covers the latest updates and developments in the crypto industry.
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