Thanks to significant capital inflows this week, the amount of assets under management of BlackRock's Bitcoin ETF has exceeded that of the gold ETF. Let's take stock of the amounts involved.
BlackRock sees its Bitcoin ETF surpass its gold ETF
One month after its launch last January, BlackRock's spot Bitcoin ETF achieved the strongest performance in the last 30 years in terms of capital inflows. Despite a slowdown in the spring and summer, the result of the American election was able to remove uncertainty, thereby allowing for BTC to resume its bullish run by once again surpassing its all-time high (ATH).
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It is in this context that liquidity flows once again flowed into ETFs, to the point that IBIT recorded $1.1 billion in net inflows on Thursday, namely the best day since its creation:
History of flows on the IBIT ETF
Thus, all this liquidity now allows IBIT to bring together nearly $34.34 billion in assets under management. In addition to the fact that this now represents more than 2.26% of Bitcoin's capitalization, a new milestone has been reached: the overtaking by this ETF of that on gold.
And for good reason, the IAU ETF, although launched in 2005 by BlackRock and which has managed to weather major crises such as that of subprimes or Covid, has $32.35 billion in assets under management.
With an acceleration of the bull run which seems to be looming, this performance could soon take another turn, although it is already particularly remarkable.
👉 On the same subject — Thanks to BlackRock, spot Bitcoin ETFs record record daily net inflows
As for the spot assets themselves, BTC still has significant room for improvement against gold. Indeed, the famous precious metal is capitalized at $18,075 billion, compared to $1,514 billion for Bitcoin.
At the time of writing, BTC is trading at $76,650, up 0.88% in 24 hours.
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Source: Coinglass
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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