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New: BlackRock's Bitcoin ETF Hits Record $30 Billion Ahead of U.S. Election.

#ETFvsBTCvsBTC $BTC BlackRock's groundbreaking spot Bitcoin exchange-traded fund (ETF) has hit a remarkable milestone, surpassing $30 billion in assets, highlighting strong demand for Bitcoin. Launched on January 10 this year, the ETF now holds over 417,000 Bitcoins, worth around $30.4 billion, reflecting growing acceptance and investor trust in the cryptocurrency.

With the U.S. presidential election nearing on November 5, inflows into the Bitcoin ETF have seen a noticeable rise, showing increased interest in cryptocurrency as a reliable investment ahead of pivotal political events that often impact market trends.

Reaching $30 billion in less than 10 months, BlackRock’s ETF has set a record as the fastest to hit this valuation, as noted by Bloomberg’s senior ETF analyst Eric Balchunas. Previously, $JEPI and $GLD held the record but took much longer to reach similar levels. This milestone highlights not only the ETF’s success but also a key moment in the progression of cryptocurrency investments.