BlackRock’s IBIT outperforms gold ETFs in assets under management

Amid market optimism around Bitcoin and the broader market, BlackRock's iShares Bitcoin Trust (IBIT) outperformed its gold ETF counterpart, the iShares Gold Trust (IAU) in assets under management (AUM). Notably, IBIT has amassed around $33.1 billion in AUM, while IAU currently holds $32.9 billion in assets. The increase in IBIT assets could be due to a number of factors, including strong demand from retail and institutional investors. The recent rise in the price of Bitcoin has also fueled this growth. Bitcoin also hit a new all-time high of $76,800 yesterday.