CandleFocus Analyst: BlackRock’s Bitcoin ETF Will Soon Flip Its Gold ETF
2024-10-18
Author: Content Editor
BlackRock's Bitcoin ETF is quickly catching up to its Gold ETF in terms of assets under management (AUM), despite being launched just nine months ago. The iShares Bitcoin Trust has attracted $25.8 billion in AUM, while the iShares Gold Trust has reached $32.5 billion over nearly two decades. This rapid growth in the Bitcoin ETF has been attributed to the increasing interest in Bitcoin and its potential bullish impact on the market price. Analysts have also noted the correlation between BlackRock's Bitcoin accumulation and the price performance of BTC, suggesting that BlackRock's inflows could drive Bitcoin to its all-time high. Other Bitcoin ETFs, such as Fidelity Investments' offering, are also seeing strong inflows. The growth of Bitcoin ETFs has surpassed that of gold ETFs, which took nearly five years to reach similar levels of AUM.
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