BlackRock's Spot Bitcoin ETF Surpasses Its Gold ETF
BlackRock’s iShares Spot Bitcoin ETF has exceeded its iShares Gold Trust in assets under management. The IBIT Bitcoin trust has reached $33.1 billion, with the recent US election being a catalyst for investor inflows and Bitcoin prices. JUST IN: BlackRock's #Bitcoin ETF is now larger than its Gold ETF. — Watcher.Guru (@WatcherGuru) November 8, 2024 On election night in the US, Bitcoin climbed to a new all-time high as the voting returns favored Donald Trump. The former President and new president-elect has been open about his support for Bitcoin and cryptocurrencies, calling himself the “crypto president.” As a result of the newfound hype around Bitcoin in November, interest in the asset and other cryptocurrencies has risen. While Gold (XAU/USD) has also recently seen an all-time high, Bitcoin quickly eclipsed it as one of the most popular non-fiat assets in the world. BlackRock’s ETFs display this change, as its Spot Bitcoin ETF has now surpassed its Gold...