FameEX Hot Topics | Blayard's CEO Expresses Strong Optimism for Bitcoin as Its ETF Surpasses $17 Billion

Larry Fink, the CEO of Blayard, has expressed his astonishment and optimism regarding the remarkable surge in demand for the company's spot Bitcoin ETF, which has now exceeded $17 billion in size. In an interview with Fox Business on March 27, Fink highlighted the unprecedented growth of the iShares Bitcoin Trust (IBIT), noting it as the fastest-growing ETF in history. With an impressive capital influx of $13.5 billion within its initial 11 trading weeks and daily capital flows peaking at $849 million, IBIT has set a new benchmark for liquidity and market transparency.

Fink was taken aback by the robust retail demand for IBIT, which surpassed his expectations prior to the ETF's application. His confidence in Bitcoin's long-term prospects remains strong, as evidenced by IBIT's rapid accumulation of Bitcoin assets, reaching $17.1 billion and hitting the $10 billion milestone in just two months. This milestone is notably faster than the first gold ETF, which took two years to achieve the same.

IBIT now stands as the second-largest holder of Bitcoin among approved ETFs, trailing only behind the Grayscale Bitcoin Trust with $23.6 billion. Despite Grayscale's holdings seeing a decline from previous levels, the overall landscape for Bitcoin ETFs is expanding, with more than $34.1 billion held across various issuers, including notable funds like the Fidelity Zhiyuan Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB).

However, the future of some spot Bitcoin ETF issuers remains uncertain, with industry experts like Hector McNeil of HANetf suggesting that profitability challenges could lead to closures among less successful funds. Bloomberg ETF analyst Henry Jim also weighed in, noting the difficult position smaller issuers find themselves in, facing intense competition and the dilemma of balancing costs with the need to attract sufficient assets.

Adding to the competitive arena, Hashdex's spot Bitcoin ETF received approval on March 27, marking it as the 11th entrant in the U.S. market. This approval underscores the increasing interest and competition within the spot Bitcoin ETF sector, signaling a continuously evolving landscape for investors and companies alike.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.