The iShares Bitcoin Trust (IBIT) is BlackRock’s spot Bitcoin exchange-traded fund, launched in January 2024 following SEC approval.
Key features:
- Launched: January 2024
- Listed: On NASDAQ
- Purpose: Direct exposure to Bitcoin price movements
- Custody: Coinbase Custody
- Structure: Physically-backed ETF (holds actual Bitcoin)
Significance:
- First wave of SEC-approved spot Bitcoin ETFs
- Major institutional entry into crypto market
- Backed by world’s largest asset manager
- Provides regulated Bitcoin exposure
- Accessible through traditional brokerage accounts
Notable aspects:
- Quick asset gathering success
- Competitive fee structure
- Part of broader institutional crypto adoption
- Trading alongside other approved Bitcoin ETFs
- Represents mainstream financial acceptance of crypto assets