BlackRock’s iShares Bitcoin ETF (IBIT) on Friday became the first recently launched spot Bitcoin product to reach $2 billion in assets under management (AUM). That doesn’t include Grayscale’s GBTC, which had nearly $30 billion in AUM when it switched from closed-end funds to spot ETFs.

On Thursday, investors added approximately $170 million to IBIT, and the fund purchased nearly 4,300 more Bitcoins (BTC), bringing the total number of tokens held to 49,952.Earlier on Friday, Bitcoin prices were well above the $40,000 level, which pushed AUM above $2 billion.At present, the fund's asset management scale has exceeded US$2 billion, ranking third in asset concentration among more than 600 ETFs issued last year, ETFStore President Nate Geraci pointed out. pointed out that he believed that IBIT would soon take over the top spot.The next fund to cross the $2 billion mark is likely to be Fidelity’s WiseOrigin Bitcoin Fund (FBTC), which held nearly 44,000 Bitcoins as of January 25.