Amidst the market optimism around Bitcoin and the broader market, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed its Gold ETF counterpart, the iShares Gold Trust (IAU), in assets under management (AUM). Notably, IBIT has amassed around $33.1 billion in AUM, while IAU currently holds about $32.9 billion worth of assets. The surge in IBIT’s assets can be attributed to several factors, including strong demand from retail and institutional investors. The recent rise in Bitcoin prices has also fueled this growth. Bitcoin also hit a new all-time high of $76,800 yesterday.
Credit: Source link
