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Bitcoin ETFs surpass gold ETFs in AUM
As of December 16th, a significant milestone has been reached in the cryptocurrency space. According to K33 Research, Bitcoin ETFs have surpassed gold ETFs in total assets under management (AUM), with Bitcoin funds reaching $129 billion compared to gold ETFs’ $128 billion.
This development comes less than a year after spot Bitcoin ETFs launched in January following the SEC’s approval. As of December 16th, the AUM for all Bitcoin ETF types – including spot, futures, and leveraged – amounts to $130 billion, with spot Bitcoin ETFs accounting for $120 billion compared to spot gold ETFs at $125 billion.
It is no surprise that BlackRock’s iShares Bitcoin Trust has emerged as the market leader in this space, managing nearly $60 billion in assets. In fact, it surpassed BlackRock’s iShares Gold Trust in November, indicating a significant shift in institutional investor preferences.
Bitcoin ETF inflows have surpassed $5 billion since November, coinciding with Bitcoin reaching a new all-time high of over 108,000. This surge reflects investors seeking alternatives amid geopolitical and economic uncertainty driven by concerns over inflation, government deficits, and geopolitical instability.
In conclusion, it is clear that the momentum behind institutional investment in Bitcoin continues to grow, surpassing even gold ETFs’ AUM.
Source: cryptobriefing.com
