BlackRock, the world's largest asset manager, now hosts bitcoin over gold for its flagship iShares exchange-traded funds (ETFs).
To put it more precisely: Wall Street giant iShares Bitcoin Trust ETF (IBIT) now outperforms iShares Gold ETF (IAU) in net assets—an impressive feat considering the former product has only been around since January. The iShares Gold ETF has been offered since 2005. BlackRock acquired the business and brand from Barclays in 2009.
As the market closed on Thursday, BlackRock revealed that the spot Bitcoin ETF now has a staggering $33.17 billion in value. Data Reported by the organization itself. BlackRock Gold ETF Now Traces That figure is slightly lower, with a net worth of $32.96 billion.
Bitcoin and gold are often seen as comparable stores of value, with BTC long referred to as “digital gold” by many cryptocurrency advocates.
Blackrock's Bitcoin strength has undoubtedly been bolstered by Donald Trump. Reelection On Tuesday, an earthquake event sent markets soaring. The day after Trump recaptured the White House, the company's spot Bitcoin ETF saw its highest daily trading volume ever. 4.1 billion dollars.
That move even outpaced daily volume in blue-chip stocks like Netflix, Visa and Berkshire Hathaway over the same period. basis According to Bloomberg Senior Analyst Eric Balchunas – Trump is a sign of enthusiasm among investors, which is overwhelming. He promised. To stop the US government crackdown on crypto and defeat the fictional industry.
On Thursday, Blackrock saw its biggest ever. net income For the iShares Spot Bitcoin ETF at $1.12 billion.
Pav Hundahl, chief market analyst at crypto exchange Swyftx, said: “We are now in an environment of financial stability, political uncertainty and strong US data. Decrypt at the moment. Capital is everywhere, and right now, it's flowing into the EFF at a rapid pace.
Of the 11 bitcoin ETFs currently offered on Wall Street, BlackRock is hands down the largest. The next closest size, grayscale, currently holds $16.79 billion worth of bitcoins – about half that of BlackRock.
Edited by Andrew Hayward.
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