According to data from K33 Research, spot Bitcoin ETFs in the US officially surpassed gold ETFs in assets under management (AUM) on December 16, marking a significant milestone as institutional investors increasingly turn their attention to cryptocurrencies.
Vetle Lund, Research Director at K33 Research, revealed that Bitcoin ETF funds in the US have reached a total AUM of 129 billion USD, surpassing the AUM of gold ETFs.
Bitcoin ETF: Achievements and New Appeal
Bloomberg ETF Analyst, Eric Balchunas, adds that this figure includes not only spot ETFs but also funds based on derivative instruments such as futures and leveraged funds.
"When considering all Bitcoin ETFs, including spot, futures, and leveraged, the total AUM reaches 130 billion USD, compared to 128 billion USD for gold ETFs. However, when only considering spot ETFs, Bitcoin reached 120 billion USD, slightly lower than the 125 billion USD of gold," Balchunas said. He emphasized that the fact that Bitcoin ETFs can compete with or even surpass gold just 11 months after launch is 'incredible.'
The Dominance of Bitcoin ETFs
Spot Bitcoin ETFs launched for the first time in January after an extended review process by the US Securities and Exchange Commission (SEC). Since then, Bitcoin has quickly dominated the ETF market.
Data from Bloomberg Intelligence shows that in November, Bitcoin ETFs in the US first broke the 100 billion USD net asset milestone. Bryan Armour, Director of Passive Strategy Research at Morningstar, noted that this growth reflects a more positive market sentiment towards Bitcoin, especially after Donald Trump's victory in the presidential election, which helped boost performance and attract over 5 billion USD in new capital flows.
Among Bitcoin ETFs, BlackRock's iShares Bitcoin Trust (IBIT) leads with nearly 60 billion USD in assets under management, according to data from BlackRock's website. Notably, in November, IBIT surpassed the iShares Gold Trust (IAU), also from BlackRock, in net asset value.
Furthermore, BlackRock's IBIT has become the most successful ETF launch in over a decade, recording a net inflow of 418.8 million USD on December 16.
Nate Geraci, CEO of The ETF Store, emphasizes that IBIT has surpassed approximately 2,850 other ETFs, while sharing:
"In other words, IBIT has attracted larger net inflows than any ETF launched since 2014, and this has been achieved in just over 11 months."
Since its launch, IBIT has accumulated 36.3 billion USD in net capital inflows, surpassing the 36.2 billion USD of Bitcoin ETFs traded in the US. This level is nearly three times the 12.4 billion USD net inflow of FBTC, the second-largest spot Bitcoin ETF managed by Fidelity.
Additionally, IBIT also holds the record for the largest daily inflow among Bitcoin ETFs, with over 1.1 billion USD raised in a single day. This amount far exceeds the previous record of FBTC, which only reached 473.4 million USD, the second-largest inflow in a day.
Notably, although Grayscale Bitcoin Trust (GBTC) has seen outflows of 21 billion USD since its conversion, spot Bitcoin ETFs still ensure impressive capital flows, reaching over 36 billion USD to date.
https://tapchibitcoin.io/bitcoin-etf-lat-do-etf-vang-ve-tai-san-duoc-quan-ly.html