BTC Price Index and Live Chart – CoinDesk”>(BTC) exchange-traded fund (ETF) hit the $1 billion assets under management mark on Wednesday, becoming the first of the recent cohort of bitcoin ETF providers to hit the milestone.

The iShares Bitcoin Trust, managed by asset manager iShares, began trading on January 12.

Robert Mitchnick (Head of Digital Assets, BlackRock) said in an email: “We are thrilled to see IBIT achieve this milestone within its first week. This reflects strong investor demand.” This is only the beginning. “We have a commitment to provide investors with an iShares ETF of high quality.”

Data shows that IBIT holds 99% bitcoin and almost $60,000 in fiat. According to an update on Thursday, the fund held 25,067 tokens.

IBIT closed trading on Wednesday at $24.41. It trades with a slight premium relative to bitcoin spot of 0.42%. Data shows that the fund has traded 14 million shares on average per day.

Parikshit Miishra is the editor.