Cryptocurrency

Bitcoin

Spot

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: <a href="https://en.bitcoinsistemi.com/tether-takes-an-unprecedented-cryptocurrency-step/" target="_blank" rel="noopener noreferrer nofollow">Tether Takes an Unprecedented Cryptocurrency Step</a>
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: <a href="https://en.bitcoinsistemi.com/historic-milestone-for-blackrocks-bitcoin-spot-etf-never-seen-before/" rel="noopener noreferrer nofollow">Historic Milestone for BlackRock’s Bitcoin Spot ETF – Never Seen Before</a>

Historic Milestone for BlackRock’s Bitcoin Spot ETF – Never Seen Before

Bitcoin Sistemi EN

Other articles published on Nov 9, 2024

The New XRP Rival Everyone’s Watching—Will This $0.0005 Coin Surpass Solana in the Next Bull Run?

Bitcoin Surges Past $71,000: What Could be the Possible Reasons?

Cardano Surges Past $0.44 as Whale Activity Hits Three-Month High

Ethereum Retains Momentum Despite Large Whale Sell-Off

Solana (SOL) Projected to Hit $400 by January 2025, While XYZVerse (XYZ) Targets a 20x Jump with ...

Kraken Tightens Up: Layoffs, New Co-CEO, and a Strategy Shift Amid a Crypto Industry Reset

Join our free newsletter for daily crypto updates!