The iShares Bitcoin ETF (IBIT) has achieved a record-breaking $54 billion in assets, surpassing the popular SPDR Gold ETF (GLD) with $80 billion in assets. This suggests that IBIT may eventually surpass GLD in the future. The article explains the potential reasons for IBIT's success, including the possibility of a bullish breakout in the long term for Bitcoin and its strong demand and supply dynamics. Additionally, it mentions that the IBIT ETF has formed a bullish flag and a cup and handle pattern on the weekly chart, indicating further potential gains. However, the article suggests that the Grayscale Mini Bitcoin ETF (BTC) may be a better option to buy due to its lower fees (0.15% compared to IBIT's 0.25%) and similar custodian (Coinbase).



Other News from Today