BlackRock's official asset management reports

Bitcoin ETFs Surpass Gold ETFs with $129B AUM

Dec 17, 2024, 03:35 PM

Bitcoin exchange-traded funds (ETFs) in the United States have surpassed gold ETFs in total assets under management (AUM), marking a significant milestone in the financial markets. According to data, Bitcoin ETFs now hold $129 billion in assets, compared to $128.9 billion for gold ETFs, achieving this feat in less than a year since their launch. BlackRock’s iShares Bitcoin Trust (IBIT) leads the market with $54.38 billion in assets, nearly double the $32 billion held by BlackRock’s iShares Gold Trust (IAU). Ethereum ETFs, such as BlackRock’s ETHA, also play a role, holding $3.84 billion in assets. Jay Jacobs of BlackRock described the Bitcoin and Ethereum ETFs as “just the tip of the iceberg.” This development highlights the growing investor appetite for Bitcoin ETFs, which have outpaced gold ETFs despite the latter’s two-decade head start. Other key players in the Bitcoin ETF market include Grayscale’s Bitcoin Trust (GBTC) and Fidelity’s Wise Origin Bitcoin Fund (FBTC), each managing approximately $22 billion in assets.