Donald Trump

Gold

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-ishares-bitcoin-trust-surpasses-gold-trust-in-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin Trust Surpasses Gold Trust in Assets</a><br></p>
<p style="text-align: justify">BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed the total assets of the firm’s 19-year-old iShares Gold Trust (IAU), just two days after Americans elected crypto-friendly Donald Trump as president. As of Thursday, the net assets of iShares Bitcoin Trust rose to $33.2 billion, reflecting an approximate 10% increase since the start of the month.</p>
<h2 id="gold-and-bitcoin">Gold and Bitcoin</h2>
<p style="text-align: justify">The rise in net assets indicates that BlackRock’s clientele is increasingly favoring Bitcoin over Gold. This trend supports claims that Bitcoin is outperforming Gold in the current market.</p>
<h2 id="bitcoin-and-gold-markets">Bitcoin and Gold Markets</h2>
<p style="text-align: justify">Following Trump’s victory, the price of Bitcoin reached new record levels, increasing nearly 12% since election day. In contrast, Gold prices peaked at $2,789 per ounce on October 31, stabilizing around $2,686 during the writing of this article.</p>
<p style="text-align: justify">U.S. spot Bitcoin ETFs garnered approximately $1.4 billion in net inflows on Thursday, largely attributed to rising demand for riskier assets post-Trump’s election victory and the Federal Reserve lowering interest rates by 25 basis points.</p>
<blockquote>
 <p>“ETF inflows have reached truly abnormal levels since the Bitcoin ETF operations began, outperforming Gold by tenfold before its first year is completed.” – André Dragosch, Head of European Research at Bitwise.</p>
</blockquote>
<p style="text-align: justify">With a total of 11 U.S. spot Bitcoin ETFs holding $78.5 billion in net assets, BlackRock’s IBIT constitutes 42% of that figure. The rapid growth of Bitcoin ETFs highlights the increasing interest in this leading <a href="https://en.coin-turk.com/anthony-scaramucci-predicts-trump-may-withdraw-from-2024-presidential-race/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a>.</p>
<p style="text-align: justify">As IBIT prepares for its launch in January 2024, it underscores the growing acceptance of <a href="https://en.coin-turk.com/whale-deposits-1800-bitcoin-to-binance-causing-price-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> as financial instruments, while investors maintain interest in traditional commodities.</p>
<p>The post <a href="https://en.coin-turk.com/blackrocks-ishares-bitcoin-trust-surpasses-gold-trust-in-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin Trust Surpasses Gold Trust in Assets</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

BlackRock’s iShares Bitcoin Trust Surpasses Gold Trust in Assets

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