I. The Path of Asset Scale Expansion
On the stage of the financial market, the US Bitcoin ETF is playing out a thrilling rise legend. According to Bloomberg Intelligence data, its total asset scale has first broken the $100 billion mark, reaching $104 billion, closely approaching the traditional gold ETF's $121.65 billion. When Bitcoin crossed the significant milestone of $99,000 on November 22, the US BTC ETF saw a strong net inflow of $773 million. Since the US election, Farside data indicates that over $4 billion has surged into the US BTC ETF. Looking back to 8 days ago, SosoValue data recorded its total assets at $84 billion, which was equivalent to 66% of the total asset management scale of the gold ETF, and its growth rate is remarkable.
ETF Store CEO Nate Geraci pointed out a striking time contrast: BlackRock's gold ETF took nearly 20 years to reach its current scale, while the Bitcoin ETF achieved remarkable results in just 10 months. BlackRock data revealed that the asset management scale (AUM) of IBIT successfully surpassed the gold field's IAU (iShares Gold ETF) over a week ago. Bitwise Chief Investment Officer Matt Hougan further disclosed that BlackRock's IBIT has accumulated a net inflow amount of $25.8 billion since its establishment in January 2024. Of course, its gold ETF has also reached a net inflow amount of $20.9 billion since its launch in 2020. Bloomberg analyst Eric Balchunas boldly forecasts that the BTC ETF is very likely to triple the total asset scale of the gold ETF in the future. Currently, the asset scale managed by BlackRock's IBIT has reached $34.3 billion, surpassing IAU's $33 billion.
II. The Glorious Chapter of Data
The US BTC ETF has also written a colorful chapter in trading data, recently setting numerous records. Farside data witnessed the shining moments of Bitcoin ETFs over the past two weeks. On November 7, the daily inflow of IBIT surged like a rocket, breaking through $1 billion, which pushed the total inflow of Bitcoin ETFs to a historic new height of $1.3 billion. According to SosoValue data, on November 7, at the closing time, the trading volume of IBIT reached $1.4 billion, which is the peak trading volume since its inception. Moreover, on November 11, after Bitcoin created a new historical high, the trading volume of IBIT soared to $1 billion within just 35 minutes of the opening, and the overall trading volume of the US BTC ETF reached as high as $6 billion, successfully marking another brilliant record for the newly launched fund. Analyst Balchunas emphasized that the trading volume of IBIT that day even surpassed comprehensive stocks like Visa, Berkshire, and Netflix.
From a macro market perspective, Bloomberg points out that Bitcoin's increase in 2024 has already surpassed 129%, far outpacing the performance of gold, stocks, and other assets. Caroline Bowler, CEO of BTC Markets Pty, stated that the rise in Bitcoin prices is strongly supported by frequent pro-cryptocurrency news from the new Trump administration. This series of data and phenomena fully demonstrates the vibrant energy and unlimited potential of Bitcoin ETFs in the market, also indicating that the competition between cryptocurrencies and traditional commodities is entering a heated phase. With its unique charm and strong development momentum, Bitcoin has become an indispensable key force in global asset allocation strategies, and its subsequent development trajectory will continue to touch the sensitive nerves of all market participants, becoming a core focus of ongoing attention and in-depth discussion in the financial field.
The information provided in this article is for reference only and does not constitute any type of advice.
