Blackrock’s spot bitcoin exchange-traded fund (ETF), known as the Ishares Bitcoin Trust (IBIT), launched in January, has now overtaken the Ishares Gold Trust (IAU) in terms of assets under management (AUM). According to data from Factset, IBIT reached approximately $34.3 billion on Friday, surpassing IAU's nearly $33 billion.
This achievement marks a pivotal moment in the asset world, reflecting growing investor confidence in Bitcoin over traditional gold investments. The milestone coincides with President-elect Donald Trump's electoral victory, during which he has openly supported cryptocurrency advancements.
This transition suggests a shift in investment trends, as Bitcoin continues to gain ground as a viable alternative asset. The significant capital inflow into IBIT highlights how cryptocurrencies are being increasingly accepted in mainstream finance.
