Financial news outlets and official ETF reports

Bitcoin ETF $IBIT Surpasses $100 Billion AUM in 228 Days, $50 Billion Faster than Gold ETFs

Dec 9, 2024, 08:17 PM

Bitcoin exchange-traded funds (ETFs) have achieved a significant milestone, surpassing $100 billion in assets under management (AUM). The Bitcoin ETF, identified by the ticker $IBIT, reached this threshold in just 228 days, making it more than five times faster than any other ETF in history. This rapid growth highlights the increasing popularity of Bitcoin as an investment vehicle, particularly in comparison to gold ETFs, which typically take much longer to reach similar asset levels. For context, it took the gold ETF, GLD, approximately five and a half years to reach $50 billion in AUM. The surge in Bitcoin ETFs reflects a broader trend in the cryptocurrency market, with Bitcoin's market capitalization exceeding 300 trillion yen and the top 25 cryptocurrencies also surpassing 1 trillion yen in value.