Currently, the spot BTC ETF traded in the U.S. is approximately equivalent to 66% of the total assets under management of the gold ETF.
Source: cryptoslate
Translated by: Blockchain Knight
As of November 11, the spot BTC ETF traded in the U.S. holds $84 billion, approximately equivalent to 66% of the total assets under management (AUM) of the gold ETF.
Bloomberg ETF senior analyst Eric Balchunas believes that, based on the current growth trajectory of the spot BTC ETF, it is expected to completely surpass the assets under management of the gold ETF in the next two months.
Balchunas added, 'This is much lower than my initial expectation of four to five years.'
Meanwhile, The ETF Store CEO Nate Geraci recently emphasized that BlackRock's iShares BTC ETF (IBIT) has an assets under management that exceeds that of the company's gold ETF - iShares Gold ETF (IAU).
Geraci pointed out that it took BlackRock's gold ETF 20 years to reach this level, while the BTC ETF took less than 10 months.
Data from Farside Investors shows that the spot BTC ETF set multiple records last week.
On November 7, IBIT's daily inflow of funds exceeded $1 billion, pushing the total inflow of funds for the spot BTC ETF over $1.3 billion, setting a new collective record.
IBIT closed on November 7 with a trading volume of $4.1 billion, marking the most significant trading activity since its launch.
The spot BTC ETF traded in the U.S. recorded a trading volume of $6 billion, once again setting a record for newly issued funds.
Balchunas emphasized that the trading volume of IBIT that day was higher than comprehensive stocks such as Berkshire, Netflix, and Visa.
BTC set a new ATH value over the weekend and after a sustained rebound, IBIT reached a trading volume of $1 billion within the first 35 minutes of trading on November 11.
Other ETFs have also experienced similar surges, with Bitwise CEO Hunter Horsley stating that the company's products are experiencing 'huge trading volume.'
Geraci predicts that more crypto asset-related ETFs may be listed this week, such as XRP, Solana (SOL), and Cardano (ADA).
Geraci explained that several issuers are 'highly prepared' for the election results, and being proactive under the current market conditions isn't a bad thing.
