u.today
In a recent SEC filing, BlackRock, the world's largest asset manager, disclosed that it had purchased 2,535,357 shares of iShares Bitcoin Trust ETF (IBIT) valued at $91.6 million.
SoSoValue data shows that BlackRock's IBIT attracted $230 million worth of inflows on Wednesday.
According to analyst Eric Balchunas, the red-hot ETF product logged $5 billion in daily trading volume yesterday, setting a new record. Notably, only three ETFs saw more trading activity on Wednesday.
Following the most recent update, BlackRock's IBIT is now inching closer to $30 billion worth of cumulative inflows. Its total net assets currently stand at $42.56 billion.
BlackRock first disclosed its intention to add IBIT exposure to other funds back in March.
The record-shattering product was launched back in January.