iShares Bitcoin Trust (IBIT) is a spot Bitcoin exchange-traded fund offered by BlackRock, the world’s largest asset manager. The investment giant put in place a temporary discount on their fees, reducing it from 0.25% to 0.12% for the first $5 billion of assets in the first 12 months from launch. The fund was approved by the SEC on Jan. 11, 2024. Coinbase Custody Trust Company LLC is the custodian of BlackRock’s IBIT spot ETF. IBIT is currently the largest spot ETF on the market by volume market share.
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