Blackrock iShares Bitcoin Trust ETF (IBIT) signage astatine the Nasdaq MarketSite successful New York connected Jan. 11, 2024.
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The rapidly increasing iShares Bitcoin Trust (IBIT) has present blown past 1 of the biggest funds successful an old-school class of investing: gold.
According to FactSet, the bitcoin exchange-traded money had astir $34.3 cardinal successful AUM arsenic of Friday. That puts it supra the iShares Gold Trust (IAU), which had conscionable nether $33 billion.
The plus numbers bash not yet bespeak the astir caller crypto rally implicit the weekend, erstwhile bitcoin surged supra $80,000. IBIT was up astir 6% successful greeting trading Monday.
The largest bitcoin ETF was rallying connected Monday arsenic the cryptocurrency deed grounds highs.
The milestone comes pursuing the triumph of President-elect Donald Trump. The Republican embraced crypto arsenic portion of his campaign, including speaking astatine the Bitcoin Conference successful July.
IBIT has raked successful astir $1 cardinal of inflows implicit the past week, and $27 cardinal wide since its motorboat successful January, according to FactSet. The rising terms of bitcoin has pushed the full plus magnitude to much than $30 billion.
IBIT is inactive astir $30 cardinal smaller than the biggest golden ETF connected the market, SPDR Gold Shares (GLD).
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