Blackrock's Bitcoin Exchange Traded Fund (Etf) Reached Another Milestone.

The recovery in Bitcoin price has positively contributed to the performance of the ETF.

BlackRock's spot Bitcoin ETF surpassed the $2 billion milestone in assets under management (AUM) just two weeks after its launch on Nasdaq.

According to data shared by Bloomberg's ETF analyst James Seyffart, the intraday price performance of Bitcoin contributed to the fund's market value reaching $2.11 billion. The price of BTC surpassed $42,000 for the first time since the start of ETF trading on January 11, following the sales that occurred thereafter.

AUM is a term used to describe the total market value of all financial assets held by a fund on behalf of its clients. BlackRock's iShares Bitcoin Trust (IBIT) product is ahead of Fidelity's Wise Origin Bitcoin Fund (FBTC) product, which stands at the $1.8 billion level in the race for capital.

BlackRock leverages its leadership position in the asset management sector to attract more investors to its ETF product.

Diverging from other asset management firms, BlackRock opts for TV commercials to communicate with the baby boomer generation, releasing short videos to educate investors on how to perceive Bitcoin.

The annual fees demanded by ETF issuers have the potential to increase fund inflows. BlackRock's IBIT fee is set at 0.12% for the first $5 billion in assets and is planned to be increased to 0.25% later on.

Similarly, other ETF issuers also offer competitive fees. ARK Invest charges 0.21%, VanEck charges 0.25%, and Bitwise charges 0.20%. However, these fees are deducted from the ETF's performance without being directly passed on to investors, thus reducing investor returns.

Seyffart expects Bitcoin ETFs to attract $10 billion in fund inflows in their first year.

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