Golden Finance reports that Bloomberg analyst Eric Balchunas posted that the iShares Bitcoin Trust (IBIT) has become the most profitable fund under BlackRock, with annual revenue reaching $245 million. The product's market capitalization has surpassed BlackRock's iShares Russell 1000 Growth ETF (IWF) and iShares MSCI EAFE ETF (EFA), jumping to the top.
The asset management scale (AUM) of IBIT has approached 100 billion USD in just over 435 days, with currently managed assets of approximately 97.8 billion USD. According to data from SoSoValue, this fund is currently the largest Bitcoin ETF in the United States, with a cumulative inflow of funds reaching 62.6 billion USD.
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Cryptocurrency Overview
BTC (+7.17% | Current Price 72,443.1 USDT)
Bitcoin surged over 7% on Wednesday, driving the total market capitalization of the crypto market back above $2.5 trillion, with a daily increase of approximately 5.5%. This rebound was mainly driven by short squeeze. Previously, influenced by the Iran situation, the market experienced a concentrated sell-off, and the funding rate for Bitcoin perpetual contracts briefly dropped to extremely low levels. As geopolitical risks did not further escalate, funds that had previously taken bearish positions began to close their positions, leading to a rapid price rebound. Vetle Lunde, Head of Research at K33 Research, pointed out that Bitcoin's weekly RSI once dipped to 26.84, marking the third-lowest oversold level in history, providing technical support for the rebound.
ETH (+8.36% | Current Price 2,111.66 USDT)
On Wednesday, Ethereum
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