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BlackRock CEO Larry Fink has shared his optimism regarding the success of the firm’s Bitcoin exchange-traded fund (ETF), expressing his surprise at its performance and affirming his bullish stance on Bitcoin’s long-term prospects.
Speaking in an interview with Fox Business, Fink highlighted the remarkable growth of the iShares Bitcoin Trust (IBIT), labeling it as the “fastest growing ETF in the history of ETFs.” He emphasized that nothing has garnered assets as rapidly as IBIT has within the ETF realm.
Fink said that he had been taken aback by IBIT’s success at initially, especially in the first 11 weeks of trading. The ETF had a strong beginning, bringing in $13.5 billion in flows by the end of March 12, when daily inflows peaked at $849 million. Every trading day, IBIT receives inflows of more than $260 million on average.
Fink emphasized the changing nature of the market dynamics, which are marked by more openness and liquidity, in his reflections on the surprising success of IBIT. During the registration process, he hadn’t expected the increasing trend of retail interest for the ETF, but he expressed his happiness with it.
In response to inquiries on the fact that IBIT’s performance had above his expectations, Fink confirmed the feeling, saying that although he had anticipated the ETF to do well, its real performance had done so better.