BlackRock's official financial statements or press releases

BlackRock's Bitcoin ETF Surpasses Gold ETF in AUM, Reaching $33 Billion in 10 Months

Nov 11, 2024, 03:39 PM

BlackRock's Bitcoin ETF (IBIT) has surpassed its gold counterpart in assets under management (AUM), reaching $33 billion just 10 months post-launch. This rapid growth has placed IBIT among BlackRock's top 20 funds based on AUM, ahead of the Gold ETF (IAU), which has been around since 2005. The total assets in US spot bitcoin ETFs have now reached $84 billion, two-thirds of the way to matching gold ETFs. BlackRock, which manages 1,093 funds totaling $11.5 trillion in assets, has seen significant daily inflows into IBIT, with recent daily BTC flows of +8106.9 million. Larry Fink's firm has achieved this milestone faster than the predicted 3-4 years.