iShares Bitcoin ETF now bigger than gold counterpart following rush into crypto on Trump win

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

iShares Bitcoin ETF now ******* than gold counterpart following rush into crypto on Trump win

Blackrock iShares Bitcoin Trust ETF (IBIT) signage at the Nasdaq MarketSite in New York on Jan. 11, 2024.

Michael Nagle | Bloomberg | Getty Images

The rapidly growing iShares Bitcoin Trust (IBIT) has now blown past one of the biggest funds in an old-school category of investing: gold.

According to FactSet, the bitcoin exchange-traded fund had roughly $34.3 billion in AUM as of Friday. That puts it above the iShares Gold Trust (IAU), which had just under $33 billion.

The asset numbers do not yet reflect the most recent crypto rally over the weekend, when bitcoin surged above $80,000. IBIT was up about 6% in morning trading Monday.

Stock Chart IconStock chart icon

The largest bitcoin ETF was rallying on Monday as the cryptocurrency hit record highs.

The milestone comes following the victory of President-elect Donald Trump. The *********** embraced crypto as part of his campaign, including speaking at the Bitcoin Conference in July.

IBIT has raked in about $1 billion of inflows over the past week, and $27 billion overall since its launch in January, according to FactSet. The rising price of bitcoin has pushed the total asset amount to more than $30 billion.

IBIT is still about $30 billion smaller than the biggest gold ETF on the market, SPDR Gold Shares (GLD).

This is the hidden content, please

• Sign In
• or
• Sign Up

#iShares #Bitcoin #ETF #******* #gold #counterpart #rush #crypto #Trump #win

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up