According to analysts, Blackrock’s Ishares Bitcoin Trust Exchange-Traded Fund has passed on the $ 70 billion faster than any other ETF in history.
Bloomberg ETF specialist Eric Balchunas says in a message on the social media platform X that IBIT has surpassed the $ 70 billion five times faster than the Gold Based Gld product.
“Ibit just blew through $ 70 billion and is now the fastest ETF ever in just 341 days that figure has hit, which is 5x faster than the old record of Gld of 1,691 days …
When BlackRock IBIT applied for, the price was $ 30k and the smell of FTX was still in the air. It is now $ 110k (a return of 7x that of the powerful S&P 500) and is now seen as legitimate for other large investors. “
According to data from Blockchain Analytics platform ArkhamBlackRock currently has $ 76.19 billion in digital assets in its crypto portfolios.
In his annual letter to investors, BlackRock CEO Larry Fink said that the supremacy of the US dollar cannot last forever and is already weakened, not only because of shooting debt, but also the rise of digital assets and decentralized finances (Defi).
Says Fink,
“The US have benefited from the dollar that has been serving the world’s reserve currency for decades.
But that does not last forever. The national debt has grown three times with the pace of GDP since the debt clock of Times Square this year started to tap in 1989.57, interest payments will exceed $ 952 billion – the defense issues. By 2030, mandatory government spending and debt service will use all federal income, creating a permanent deficit. If the US does not get its debt under control, if deficits remain ballooning, America runs the risk of losing a position on digital assets such as Bitcoin.
To be clear, I am clearly not an anti-digital assets (far from it; see the following section). But two things can be true at the same time: decentralized financing is an extraordinary innovation. It makes markets faster, cheaper and more transparent. Yet the same innovation could undermine the economic benefit of America when investors Bitcoin began to see as a safer bet than the dollar. “
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