$BTC #bitcoin
Jan3's CEO, Samson Mow, stated: “This demand is not sustainable at these price levels.”
It was a strong trading week for spot Bitcoin ETFs, with $2.72 billion in inflows over five days, while the spot price of Bitcoin reached new all-time highs of $112,000 on Wednesday and continued to rise to $118,780 on Friday, according to CoinMarketCap data.
BlackRock's Bitcoin ETF becomes the fastest ETF to surpass $80 billion in assets under management
The price increase led BlackRock's spot Bitcoin ETF (IBIT) to exceed $80 billion in assets under management (AUM) on Thursday. ETF analyst Eric Balchunas stated in a post on Friday that it was the “fastest ETF” to achieve this in 374 days.
It was recently reported that BlackRock now earns more annual revenue from its IBIT fund than from its flagship S&P 500 fund, the iShares Core S&P 500 ETF.
Balchunas added: “The total assets of all spot Bitcoin ETFs also surpassed $140 billion for the first time.” However, he noted that the price increase was “the biggest contributor to this.”
