BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed the net assets of the firm’s well-established gold ETF, iShares Gold Trust (IAU).
As of November 7, IBIT’s net assets stood at approximately $33.17 billion, while IAU’s stood at approximately $32.9 billion. This achievement reflects the rapid rise of BlackRock’s Bitcoin ETF, which only began trading in January 2024, compared to IAU’s 19-year history since its launch in January 2005.
IBIT’s rise in popularity reflects broader institutional adoption of crypto assets. “Absolutely insane,” ETF Store President Nate Geraci said on X after IBIT attracted $1.1 billion in new investment on Tuesday, simultaneously setting a single-day inflow record.
Related News: Tether Takes an Unprecedented Cryptocurrency Step
The milestone coincides with market conditions that have increased institutional interest in digital assets. “Trump’s victory, combined with the Fed’s rate cut on Thursday, has encouraged institutions to enter the crypto markets,” said Jeff Mei, BTSE COO. “With further rate cuts, pro-crypto regulations, and ongoing stimulus in China, it makes sense for institutions to flock to BlackRock’s Bitcoin ETF, and we expect even more in the coming months.”
Noting the ETF’s record-breaking status, Geraci added: “Continue to rewrite the ETF history books. And remember, these are still not fully available on most major brokerage platforms or Vanguard.”
*This is not investment advice.
Continue Reading: Historic Milestone for BlackRock’s Bitcoin Spot ETF – Never Seen Before
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。