Professional Capital Management founder and CEO Anthony Pompliano explains why bitcoin’s price is soaring in ‘Cavuto: Coast to Coast.’
Bitcoin history offers one of the hottest exchange-traded funds.
The iShares Bitcoin Trust ETF, the largest bitcoin ETF with $42 billion in assets as of Thursday morning, has gained 38% over the past seven days, the longest gain in history, as tracked by the Dow Jones Market Data Group.
The move propelled the ETF, which trades under the ticker IBIT, to an all-time high and is now considered the fastest-growing ETF ever, according to Bloomberg.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| IBIT | ISHARES BITCOIN TRUST – USD ACC | 51.04 | -0.01 |
-0.02% |
| BLK | Company BLACKROCK INC. | 1,030.72 | -5.47 |
-0.53% |
“IBIT’s entry since its launch emphasizes the preference of investors to gain exposure to bitcoin through the convenience and quality of the exchange-traded product. The market has seen a renewed sense of optimism in anticipation of positive regulatory action for bitcoin and crypto. We remain focused on investor education and providing easy access to bitcoin and transparently,” a BlackRock spokesperson told FOX Business.
iShares Bitcoin ETF Trust
Since the election, IBIT has attracted more than $3 billion in capital, according to the company. President-elect Donald Trump’s sweep of the popular and electoral vote to oust the White House is expected to bring more pro-crypto administration.
ODELL BECKHAM JR CONTINUES TO CRITICIZE BITCOIN
Donald Trump (Reuters/Kevin Wurm/File)
During his campaign, the president-elect spoke at the Bitcoin 2024 industry conference in Nashville, Tennessee, and visited New York City’s crypto-themed bar, PubKey.
TRUMP VISITS NYC CRYPTO BAR
Republican presidential nominee Donald Trump visits a cryptocurrency-themed bar called PubKey in New York City on September 18, 2024. (Spencer Platt/Getty Images)
LIVE CRYPTO PRICES: FOXBUSINESS.COM
Along with the inflows, IBIT is also seeing record trading volume, Bloomberg noted, a positive sign for investors looking to get in or out of assets quickly.
IBIT, which gives investors easy access to bitcoin, mirrored the cryptocurrency’s biggest run in terms of market value, which peaked on Wednesday, trading above $93,000 before retreating below that level.
This fund, along with similar ETFs, came on the scene last January when the Securities and Exchange Commission (SEC) green-lighted ETF bitcoins for the first time.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| GBTC | GRAYSCALE BITCOIN TRUST ETF – USD ACC | 71.31 | +0.08 |
+0.11% |
| FBTC | FIdelITY WISE ORIGIN BITCOIN FUND – USD ACC | 78.48 | +0.10 |
+0.13% |
| ARKB | ARKB – ARK 21SHARES BITCOIN ETF – USD ACC | 89.57 | +0.01 |
+0.01% |
Despite the historic approval of SEC Chairman Gary Gensler before the November 5 election, Trump said he would fire him.
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