According to Bloomberg ETF senior, Bitcoin spot ETFs from BlackRock and Fidelity broke the previous record for the fastest fund, which had $10 billion in assets under management. expert Eric Balchunas in the field of social media X.
Until the Bitcoin ETF came along, the record for how quickly an exchange-traded fund (ETF) reached $10 billion in assets was held by JEPQ, which took 647 trading days, or nearly three years. It took 49 days for IBIT to reach this figure, while FBTC took 77 days.
The JPMorgan Nasdaq Equity Premium Income ETF goes by the acronym JEPQ. According to Yahoo Finance, this is an actively managed fund that trades equity-linked bonds and sells call options to generate income for its holders. It uses the Nasdaq-100 index as a benchmark. As of 10:30 a.m. ET (14:30 UTC) on May 10, shares of JEPQ are trading at $53.42, representing a return of 10.14% so far this year. Following its debut on May 3, 2022, its net assets will amount to $12.37 billion.
The iShares Bitcoin Trust (IBIT) from BlackRock and the Wise Origin Bitcoin Fund (FBTC) from Fidelity both debuted on January 11, 2024. You can track the price of Bitcoin with either of these funds without actually owning any of the cryptocurrency.
By the 12th of April 2024, total IBIT inflows had surpassed $10 billion.
On May 6th, IBIT had $17.28 billion in managed assets.
After IBIT hit $1 billion in inflows on January 19, FBTC became the second Bitcoin ETF. Over $10 billion in assets were managed by FBTC on March 28. A record-breaking $473 million was deposited into the fund on March 8. On May 6th, FBTC inflows hit nearly $100 million, according to the data dashboard.
If we look at market share, two of the biggest spot Bitcoin ETFs are FBTC and IBIT. In second place, behind Grayscale’s GBTC, is FBTC with an 18.34% stake, and IBIT with 43.98%.