By Nermeen Nabil Khear 
New data reveals that asset management titan BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) has surpassed its gold counterpart in terms of net assets.
In a new thread on the social media platform X, Nate Geraci – co-founder of the ETF Institute – notes that BlackRock’s iShares Bitcoin Trust ETF (IBIT) took only 10 months to surpass the IShares Gold Trust (IAU), which launched many years ago.
“iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF in assets… Did this in 10 months. IAU launched in January 2005. Absolutely wild.”
According to the data, as of the morning of November 7th, the IAU had $32.7 billion in terms of net assets while IBIT hit $33.1 billion.
The news comes as the top crypto asset by market cap continues to surge after the US presidential election, which took place on November 5th and saw Donald Trump defeat Kamala Harris.
The crypto king was valued at around $69,000 before the election. That night and the following day, it surged to $74,000 and is now trading for $76,000 at time of writing, a marginal increase during the last 24 hours.
In October, IBIT set a new daily inflow record when investors poured $875 million worth of daily inflows into the ETF, according to data from market intelligence firm Coinglass. The previous record was $849 million.
At the time, Bloomberg ETF expert James Seyffart said that the last two weeks of October were an “unprecedented” time for BTC ETFs.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/laskoart/Andy Chipus
The post BlackRock’s IBIT Bitcoin ETF Surpasses iShares Gold ETF in Net Assets, Reaching Over $33,000,000,000 appeared first on The Daily Hodl.
New data reveals that asset management titan BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) has surpassed its gold counterpart in terms of net assets. In a new thread on the social media platform X, Nate Geraci – co-founder of the ETF Institute – notes that BlackRock’s iShares Bitcoin Trust ETF (IBIT) took only 10 months to
The post BlackRock’s IBIT Bitcoin ETF Surpasses iShares Gold ETF in Net Assets, Reaching Over $33,000,000,000 appeared first on The Daily Hodl. Bitcoin, Trading, blackrock, BTC, BTC ETF, Crypto, ETF, exchange-traded funds, Gold, Gold ETF, IAU, IBIT, iShares, News, trading
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.