{"id":22522,"date":"2024-11-09T21:44:14","date_gmt":"2024-11-09T21:44:14","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=22522"},"modified":"2024-11-09T21:44:14","modified_gmt":"2024-11-09T21:44:14","slug":"blackrocks-bitcoin-etf-overtakes-gold-fund-in-total-assets","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/blackrocks-bitcoin-etf-overtakes-gold-fund-in-total-assets\/","title":{"rendered":"BlackRock\u2019s Bitcoin ETF Overtakes Gold Fund in Total Assets"},"content":{"rendered":"\n<p>The introduction of spot Bitcoin ETFs in January 2024 has set a positive tone for the cryptocurrency market. These investment vehicles are anticipated to significantly impact the Bitcoin landscape by attracting more investors to digital assets.<\/p>\n<p>Leading the charge is BlackRock\u2019s ETF dubbed IBIT, which has been breaking records by consistently drawing in substantial new investments. Notably, it has outperformed BlackRock\u2019s gold ETF in total net assets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BlackRocks_Bitcoin_ETF_Reaches_33_Billion_in_Assets\"><\/span><b>BlackRock\u2019s Bitcoin ETF Reaches $33 Billion in Assets<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of November 7, BlackRock\u2019s Bitcoin ETF, represented by the ticker IBIT, has accumulated around $33.2 billion in net assets, surpassing its gold ETF counterpart (IAU) which holds about $32.9 billion.<\/p>\n<p>This achievement is particularly remarkable considering IBIT only launched in January 2024, while the gold ETF has been on the market since January 2005, giving it a 20-year advantage.<\/p>\n<p>Nate Geraci, President of ETF Store, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NateGeraci\/status\/1854882220407701661\">noted<\/a> this milestone in a post on X, highlighting that IBIT experienced a remarkable return to positive inflows, recording its largest single-day investment increase ever with $1.12 billion in net inflows. This comes after a period of outflows amounting to $113 million on November 5 and 6.<\/p>\n<p>IBIT currently dominates the U.S. Bitcoin ETF landscape, followed by Grayscale\u2019s GBTC at $16.8 billion and Fidelity\u2019s ETF with $14.58 billion. Ark &amp; 21Shares\u2019 ARKB and Bitwise\u2019s BITB complete the top five rankings.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Bitcoin_Price_Trends\"><\/span><b>Current Bitcoin Price Trends<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As investors await further capital inflows for BlackRock\u2019s Bitcoin ETF, there is historical evidence of a positive relationship between such inflows and Bitcoin&#8217;s price movements. On Thursday, Bitcoin successfully rose above the $76,000 threshold.<\/p>\n<p>Currently, Bitcoin is priced above $76,500, having briefly exceeded $77,000 on Friday. According to data from CoinGecko, the leading cryptocurrency has seen an increase of over 10% in the past week.<\/p>\n<p><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The introduction of spot Bitcoin ETFs in January 2024 has set a positive tone for the cryptocurrency market. These investment vehicles are anticipated to significantly impact the Bitcoin landscape by attracting more investors to digital assets. Leading the charge is BlackRock\u2019s ETF dubbed IBIT, which has been breaking records by consistently drawing in substantial new [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":22523,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"BlackRock\u2019s Bitcoin ETF Overtakes Gold Fund in Total Assets - Bitrabo","description":"The introduction of spot Bitcoin ETFs in January 2024 has set a positive tone for the cryptocurrency market. These investment vehicles are anticipated to signif"},"footnotes":""},"categories":[316],"tags":[564,448,1989,1923,1189,862,4357,2148],"class_list":["post-22522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-assets","tag-bitcoin","tag-blackrocks","tag-etf","tag-fund","tag-gold","tag-net","tag-surpasses"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/22522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=22522"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/22522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/22523"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=22522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=22522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=22522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}