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BlackRock's Bitcoin ETF Surpasses Gold ETF in AUM as Bitcoin Reclaims $100K

Dec 12, 2024, 01:49 PM

BlackRock Inc.'s iShares Bitcoin Trust (IBIT) has surpassed its gold ETF in terms of assets under management (AUM), now holding $51 billion since its launch in January 2024. This milestone highlights the growing interest in Bitcoin as an investment vehicle. Spot Bitcoin ETFs in the U.S. have collectively attracted over 500,000 BTC, representing 2.5% of the total Bitcoin supply, with BlackRock's IBIT alone holding 520,000 BTC. Fidelity's FBTC has also seen significant inflows, recently adding $121.9 million. The surge in Bitcoin ETF investments comes amidst a broader market trend where Bitcoin has reclaimed the $100,000 mark, and other cryptocurrencies like Ethereum, Solana, and various altcoins have experienced notable gains.