BlackRock's Bitcoin (BTC) exchange-traded fund (ETF) currently holds more assets than the asset manager's gold ETF, even though it was only launched in January, according to BlackRock data. I am doing it.
IShares Bitcoin Trust (IBIT) had net assets of more than $33 billion as of November 8, according to iShares, surpassing IShares Gold Trust (IAU), which was just shy of that amount. .
ETF Store president Nate Geraci said in November that this is an “absolutely wild” feat since IAU has been trading since 2005, while IBIT was launched just 10 months ago. I mentioned this in the article on the 8th. post on the X platform.
sauce: Nate Geraci
The cryptocurrency market soared following Donald Trump's victory in the US presidential election, with many believing his victory would benefit the industry, according to Cointelegraph Research.
November 6 was IBIT's “biggest volume day in history” as investors flocked to cryptocurrencies in the wake of Trump's election victory, Bloomberg ETF analyst Eric Balciunas said.・Mr. Balchunas stated in X on November 6th. post.
On November 7, IBIT recorded inflows of $1.1 billion, returning to inflow status after two consecutive days of outflows totaling $113.3 million, according to Farside. data.
Meanwhile, Bitcoin price traded above $76,800, continuing Bitcoin's trend of daily new highs.
Top ETFs will be released. Source: ETF Store
Geraci told X magazine that Bitcoin has dominated the ETF world this year, accounting for six of the top 10 most successful stocks of 2024. post.
Geraci said in September that of the roughly 400 new ETFs launching in 2024, the four ETFs with the largest inflows were all spot BTC ETFs.
President Trump's victory is a green light for more than half a dozen crypto ETFs set to list in the United States, pending regulatory approval.
In 2024, asset managers filed a flurry of regulatory applications to list ETFs holding altcoins such as Solana (SOL), XRP (XRP), and Litecoin (LTC).
The issuer is also awaiting approval for several planned cryptocurrency index ETFs designed to hold a diverse basket of tokens.
Balciunas said on October 25 that these filings were effectively a “call option on Trump's victory” in the US presidential election.
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