March 28, 2024 1:51 AM | 2 min read |
BlackRock Inc. (NYSE:BLK) CEO Larry Fink is “surprised” with the performance of the company’s Bitcoin (CRYPTO: BTC) focused ETF IBT (NASDAQ:IBIT).
What Happened: During a conversation with Fox Business on Wednesday, Fink said “IBIT is the fastest growing ETF in the history of ETFs. Nothing has gained assets as fast as IBIT in the history of ETFs.”
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BlackRock’s IBIT ETF outperformed expectations in its first 11 weeks, pulling in $13.5 billion, with a record one-day peak of $849 million on March 12. Averaging more than $260 million in daily inflows, the success of the ETF caught even Fink by surprise, who admitted, “I’m pleasantly surprised. I would never have predicted it before we filed it that…
