Bitcoin ETF

Bitcoin

Gold

BlackRock’s Bitcoin ETF is now larger than its gold ETF after IBIT’s assets reached a whopping $33,200,000,000. 
This week, BlackRock’s iShares Bitcoin Trust (IBIT) surpassed the firm’s long-established iShares Gold Trust (IAU) in net assets for the first time. 
As of Thursday, IBIT’s assets reached $33.2 billion, exceeding IAU’s $32 billion. Notably, while IBIT was launched earlier this year, IAU has been trading since 2005. 
At the beginning of the year, IAU had a significant advantage, starting with around $25 billion more than IBIT. 
However, BlackRock’s “digital gold” fund has rapidly gained ground in just a few months, though it still has a long way to go before catching up with the largest gold ETF, SPDR Gold Shares (GLD), which holds $76 billion in assets, according to <a href="https://www.investopedia.com/blackrock-s-bitcoin-etf-assets-surpass-those-of-its-almost-20-year-old-gold-etf-8742363#:~:text=As%20of%20Thursday%2C%20IBIT's%20assets,has%20been%20trading%20since%202005." target="_blank" rel="noreferrer noopener">Investopedia</a>. 
Both gold and bitcoin have performed impressively this year, with gold prices rising about 80%. 
Bitcoin (BTCUSD), however, has outperformed even that, climbing approximately 80% year-to-date and recently reaching a new all-time high above $77,000 on Friday. 
The increase in IBIT’s value has been fueled by a rally in bitcoin, which some attribute to Donald Trump’s <a href="https://franknez.com/bitcoin-hits-new-all-time-high-as-trump-leads-race/">election victory</a>. 
On Thursday, U.S. spot Bitcoin ETFs saw inflows totaling nearly $1.3 billion, with BlackRock’s IBIT contributing $1.1 billion of that amount, marking an all-time high for IBIT and all other bitcoin ETFs. 
Bitcoin is currently trading at $76,407.15 at the time of this writing. 
Read&nbsp;<a href="https://franknez.com/daily-crypto-news/">Daily Crypto News</a>&nbsp;for more news and updates like this. 
Follow us on&nbsp;<a href="https://coinmarketcap.com/community/profile/FrankNez/">CoinMarketCap</a>. 
Also Read: <a href="http://Whale Now Loses Whopping $75M Shorting Bitcoin">Whale Now Loses Whopping $75M Shorting Bitcoin</a> 
The post <a href="https://franknez.com/blackrocks-bitcoin-etf-is-now-larger-than-its-gold-etf/">BlackRock’s Bitcoin ETF Is Now Larger Than Its Gold ETF</a> appeared first on <a href="https://franknez.com">Daily Market News 🗞️</a>.

BlackRock’s Bitcoin ETF Is Now Larger Than Its Gold ETF

FrankNez

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