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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
BlackRock Achieves Historic Success Thanks to Bitcoin: Unprecedented! - Coin Bulletin
iShares Bitcoin Trust (IBIT), launched by BlackRock's iShares unit, has truly made a breakthrough in the financial sector in 2024.
With an asset management size exceeding 50 billion dollars in just 11 months, IBIT has achieved a success that no exchange-traded fund (ETF) has ever accomplished before.
The Biggest Start in ETF History
Among the 1,400+ ETFs offered worldwide by BlackRock, IBIT has demonstrated unique performance. Todd Sohn, managing director of Strategas Securities, an expert in ETFs and technical strategy, noted that the size of IBIT is equal to the total assets under management of over 50 ETFs that have been in the market for over 20 years and focus on the European market. Nate Geraci, president of The ETF Store consulting firm, described this as the 'biggest launch in ETF history.'
Bloomberg Intelligence analyst James Seyffart said, "IBIT's growth has been unprecedented. It became the fastest fund to reach milestones achieved by any ETF, regardless of asset class." Seyffart added that IBIT could generate approximately $112 million in annual revenue at its current asset level and 0.25% expense ratio.
A Turning Point for Bitcoin
The success of IBIT has not only been a great financial success for BlackRock, but also a significant milestone for Bitcoin. The assets under management of BlackRock, the world's largest investment firm, exceeding 11 trillion dollars, has accelerated the institutional acceptance of Bitcoin along with IBIT.