CandleFocus Bitcoin ETFs could overtake gold ETFs in size within one month
2024-11-23
Author: Content Editor
US Bitcoin ETFs are on track to surpass gold ETFs in size if they continue to accumulate assets at their current rate, according to Bloomberg ETF analyst Eric Balchunas. As of November 23, Bitcoin ETFs in the US held $107 billion in assets, representing about 86% of the total net assets of gold ETFs. Balchunas suggests that Bitcoin ETFs could surpass gold ETFs by Christmas with a difference of only $23 billion. In addition, Bitcoin ETFs hold approximately 98% of Satoshi Nakamoto's estimated Bitcoin stash and may become the largest holder of Bitcoin next week. This week alone, US spot Bitcoin ETFs saw $3.3 billion in net inflows, with BlackRock's iShares Bitcoin Trust (IBIT) capturing the majority of the total. Despite the bullish outlook for Bitcoin, State Street warns investors about becoming overly optimistic and emphasizes the stability and long-term value offered by gold.
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