According to a report by K33 Research, the assets under management (AUM) of Bitcoin ETFs will officially surpass that of gold ETFs on December 16, 2024.
According to K33 Research's report on December 16, the total assets under management (AUM) of Bitcoin ETFs have reached $129 billion, surpassing the $128.88 billion of gold ETFs. The company's research director Vetle Lund emphasized this milestone.
Bloomberg ETF analyst Eric Balchunas further explained that the $129 billion figure includes all types of Bitcoin ETFs, from spot and futures ETFs to leveraged funds, slightly exceeding the $128.88 billion of gold ETFs. However, considering only spot funds, Bitcoin ETFs hold $120 billion, still trailing behind gold's $125 billion. Notably, Bitcoin ETFs achieved this milestone just 11 months after their launch.
The journey of Bitcoin ETFs conquering the market is indeed impressive. Since gaining approval from the U.S. Securities and Exchange Commission in January, these funds have quickly attracted investor interest. According to Bloomberg Intelligence, as of November, the net assets of U.S. Bitcoin ETFs have exceeded $100 billion. Morningstar's Bryan Armour noted that this strong growth reflects the market's increasing confidence in Bitcoin.
In the realm of Bitcoin ETFs, BlackRock's iShares Bitcoin Trust (IBIT) leads with nearly $60 billion in assets under management. Notably, as of November, IBIT has not only surpassed BlackRock's own gold fund iShares Gold Trust (IAU) in net asset value but has also become the most successful ETF launch in over a decade. On December 17 alone, IBIT attracted $733.3 million in net inflows.
Bitcoin has also been continually setting new historical highs, with a peak price of $108,200.