An old-school asset management giant is flexing its muscle in the race to establish a foothold in bitcoin exchange-traded funds with a stellar first week. As Bernstein analyst Gautam Chhugani highlighted in a note to clients Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) has been an early winner among the spot bitcoin ETFs that were approved last week. The fund has amassed $1 billion in net inflows, and while trading volume has cooled somewhat after a massive first day, the fund already has cumulative volume of more than $2 billion. “We are excited to see the strong early demand from clients for IBIT, especially within both the end investor and advisor communities. This exemplifies our commitment to offer clients access to different assets of their choice, and our capability to deliver quality products for all types of investors,” Jay Jacobs, U.S. head of thematic and active…
