BlackRock's Bitcoin ETF, IBIT, has achieved a remarkable milestone by surpassing its gold ETF counterpart, IAU, in assets under management (AUM). What's even more impressive is that IBIT has accomplished this feat in less than a year since its launch in January 2024, while IAU, launched in 2005, took nearly two decades to reach its current AUM .
As of November 7, 2024, IBIT's AUM stood at approximately $33.17 billion, eclipsing IAU's $32.96 billion ¹. This significant growth can be attributed to strong demand from retail and institutional investors, as well as the recent surge in Bitcoin prices .
The success of IBIT highlights a shift in investor sentiment, with Bitcoin increasingly being considered a viable alternative or complement to traditional safe-haven assets like gold .
