In a recent interview with Yahoo Finance, Rachel Aguirre, the U.S. Head of BlackRock’s iShares Products, expressed her satisfaction with the launch and initial performance of the iShares Bitcoin Trust (IBIT), the company’s spot-based Bitcoin exchange-traded fund (ETF).
Within the first two weeks of trading since receiving approval from the Securities and Exchange regulator, IBIT has witnessed an impressive trading volume surge, reaching a substantial $3 billion. Aguirre highlighted that the ETF attracted over $1.6 billion in inflows after its release, emphasizing BlackRock’s commitment to providing investors with access to Bitcoin.
Speaking proudly about the company’s role in meeting investor demand for Bitcoin, Aguirre welcomed recent regulatory developments in the U.S. She clarified that she does not consider SEC Chairman Gary Gensler an adversary to the cryptocurrency industry at large.
While evading a direct response to inquiries about a potential spot Ethereum ETF, Aguirre stated that BlackRock consistently strives to anticipate and meet customer needs by thinking ahead.
Aguirre outlined three unique selling propositions (USPs) for BlackRock’s iShares Bitcoin Trust (IBIT) in relation to Bitcoin. Firstly, she emphasized that IBIT makes Bitcoin more accessible to a broader investor base. Secondly, it eliminates the complexities associated with holding Bitcoin directly, including managing hot and cold wallets and securing passwords. Lastly, Aguirre highlighted iShares’ commitment to delivering quality service to clients.
As of now, BlackRock holds 16,361 BTC to support its recently launched spot Bitcoin ETF, signaling the company’s substantial investment and confidence in the cryptocurrency market.
By Delino Gayweh
Serrari Financial Analyst
February 1, 2023
