BlackRock, the world’s largest asset manager, now manages more Bitcoin than gold for its flagship iShares exchange-traded funds (ETFs). BlackRock’s iShares Bitcoin Trust ETF (IBIT) now has more net assets than its iShares Gold ETF (IAU), which has been offered since 2005. As of Thursday, BlackRock’s spot Bitcoin ETF has accumulated $33.17 billion in value, while its gold ETF has $32.96 billion in net assets.
Both Bitcoin and gold are considered stores of value, with Bitcoin often referred to as “digital gold.” BlackRock’s Bitcoin strength was likely bolstered by Donald Trump’s re-election on Tuesday, with the company’s spot Bitcoin ETF seeing its highest-ever daily trading volume at $4.1 billion the day after the election.
On Thursday, BlackRock saw its largest ever net inflow for the iShares spot Bitcoin ETF, with $1.12 billion. BlackRock’s spot Bitcoin ETF is now the largest of the 11 spot Bitcoin ETFs currently on offer on Wall Street.
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