BlackRock’s Bitcoin ETF AUM beats gold counterpart in just 10 months

Spot Bitcoin ETFs have had a particularly strong year, with BlackRock’s IBIT leading most entries. This week was particularly positive for the largest BTC ETF, as it broke its own record on November 7, the day after the US election results were released, attracting approximately 1.12 billion dollars

Its net receipts continued on Friday with another $206.1 million. Thus, IBIT now has over $33 billion (as of November 8) in assets under management (AUM) just ten months after its launch.

Additionally, BlackRock’s Bitcoin ETF has now outperformed its gold counterpart (iShares Gold ETF (IAU)), which has just $33 billion in AUM. Interestingly, IAU has been active for nearly two decades since it was launched on January 21, 2005.

iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF (IAU) in assets…

He did it in 10 months.

IAU was launched in January 2005.

Absolutely wild. pic.twitter.com/dLi16A28Gc

— Nate Geraci (@NateGeraci) November 8, 2024

The domain of the IBIT

Farside data shows the dominant performance of BlackRock’s Bitcoin ETF. With an average daily net inflow of $123.1 million for all spot BTC ETFs, IBIT has been pulling the strings with $130.4 million. No other BTC ETF comes close, as second in line, Fidelity’s FBTC, is $51.2 million.

IBIT has never seen more than $69.1 million in daily net outflows, while the biggest withdrawal days for many of the other ETFs were significantly higher. FBTC’s worst day was $191.1 million, Ark Invest’s ARKB is $138.3 million, and Bitwise’s BITB is $79.8 million. Also, Grayscale’s leading fund (GBTC) owns this negative record with $642.5 million.

IBIT’s AUM is roughly triple that of FBTC, and the difference compared to the rest is even more mind-blowing.

Gold vs BTC Price Edition

Both assets have posted impressive gains since the start of the year, and we’ve explored this in the past. We will now focus more on the last few days, especially since the election of Donald Trump as the 47th President of the United States, which became official on November 6th.

Gold settled near $2,760/oz, but quickly fell more than 4% to $2,640/oz. Although it has regained some ground and closed Friday at $2,684, it is still in the red after Trump’s victory.

In contrast, BTC traded at $67,000, but exploded to $75,000 on Election Day and continued to rise. It peaked again yesterday at $77,240 (CoinGecko data). Thus, bitcoin has soared around 15% in a few days, while the precious metal is in the red.

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