BlackRock's Bitcoin ETF AUM Surpasses Gold Counterparty in Just 10 Months

BlackRock’s spot Bitcoin ETF, known as IBIT, has had an impressive year, leading the charge in attracting substantial inflows. As of November 7, following the U.S. election results, IBIT broke its own record, bringing in approximately $1.120 billion. The ETF continued to gather momentum, adding another $206.1 million on November 8, resulting in over $33 billion in assets under management (AUM) within just ten months of its launch.

IBIT vs. Gold ETF

In a remarkable feat, BlackRock’s Bitcoin ETF has now overtaken the iShares Gold ETF (IAU) in AUM, which has been around for nearly two decades and currently holds just shy of $33 billion. This comparison highlights the rapid growth and acceptance of Bitcoin as an investment vehicle.

"iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF (IAU) in assets… Did this in 10 months. IAU launched in January 2005. Absolutely wild." — Nate Geraci

Dominance of IBIT

Recent data indicates that IBIT is leading the pack among Bitcoin ETFs, averaging daily net inflows of $130.4 million, while the next closest competitor, Fidelity’s FBTC, sees only $51.2 million. Notably, IBIT has experienced minimal outflows, with a maximum of $69.1 million in a single day, contrasting sharply with other ETFs that have seen significant withdrawals.

Performance Comparison: Gold vs. Bitcoin

Both Bitcoin and gold have shown notable gains throughout the year. Following Donald Trump’s election as the 47th U.S. president, gold prices fell from around $2,760/oz to approximately $2,640/oz, closing at $2,684. In contrast, Bitcoin surged from $67,000 to $75,000 on election day and reached a peak of $77,240 shortly after, marking a 15% increase in just a few days.