BlackRock’s Bitcoin ETF Has More Assets Than Its Gold ETF—Which Is Almost 20 Years Old | Global News Avenue

BlackRock’s iShares Bitcoin Trust (it will go) this week surpassed the company’s long-standing iShares Gold Trust (international astronomical union)’s net worth.

As of Thursday, IBIT’s assets reached $33.2 billion, surpassing the $32 billion held by BlackRock’s gold ETF. One key difference: IBIT launched earlier this year, while IAU has been trading since 2005.

IAU started the year ahead of IBIT with about $25 billion in funding; BlackRock’s “digital gold” product caught up within a few months. (IBIT still has a long way to go in competing with the largest gold ETFs, as SPDR Gold Shares(GLD) holds $76 billion worth of gold.)

While gold has performed well this year, with prices up around 80%, Bitcoin (Bitcoin USD) is doing even better, with year-to-date performance up 80%. The leading cryptocurrency hit another all-time high on Friday, rising above $77,000.

Part of the recent rise in IBIT’s value comes on the heels of Bitcoin’s rise Attributable to Donald Trump’s election victory. On Thursday, U.S. spot Bitcoin ETFs saw nearly $1.3 billion in inflows, including $1.1 billion from BlackRock’s IBIT, according to Farside Investors. This is an all-time high for IBIT or any other Bitcoin ETF.