The United States Bitcoin exchange-traded funds (ETFs) have achieved a major milestone in its short journey. As per the report, cumulatively Bitcoin ETFs have reached $105 billion in net assets.
JUST IN: 🇺🇸 #Bitcoin ETFs are catching up to Gold ETFs for total assets held.
$104b for $BTC
$121b for Gold💥After just 11 months pic.twitter.com/iPd06tksQa
— Bitcoin Archive (@BTC_Archive) November 21, 2024
Bitcoin ETFs Surge After Trump’s Victory
This achievement marks the first time Bitcoin ETFs have broken the $100 billion barrier, preparing to outperform Gold ETFs, which currently hold around $120 billion in assets under management (AUM).
It has just been 11 months since the Bitcoin ETFs came into existence after launch in January 2024. Eric Balchunas, an ETF analyst at Bloomberg Intelligence, praised Bitcoin ETF’s rapid growth.
He says they are “97% of the way to passing Satoshi as the biggest BTC holder and 82% of the way to surpassing gold ETFs.”
The captain of the league, BlackRock’s iShares Bitcoin Trust (IBIT). Which has gained $30 billion in net inflow since its inception in January. Fidelity’s Wise Origin follows as the second most popular BTC ETF, recording inflows of over $11 billion in 2024.
Bitcoin ETFs are now heading to surpass gold ETFs in net assets, underscoring a broader trend if investors seeking alternatives amid the rising debt crisis in the U.S. A report from JPMorgan on October 3 called this shift as part of “debasement trade,” with both gold and Bitcoin acting as hedges against inflation.
The growing interest in ETFs was also witnessed after the victory of Donald Trump in the presidential election, who made the promise to create the first Bitcoin reserve in the federal treasury. This has also sparked the biggest rally in Bitcoin, thanks to which Bitcoin is now nearing the psychological mark of $100,000.
Also Read: BlackRock’s Spot Bitcoin ETF Options Lock $1.9B In Contracts On First-Day
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