BlackRock, the world’s largest asset manager, now handles more Bitcoin than gold for its flagship iShares exchange-traded funds (ETFs).
To put it more precisely: The Wall Street giant’s iShares Bitcoin Trust ETF (IBIT) has now surpassed its iShares Gold ETF (IAU) in terms of net assets—a remarkable feat given the fact that the former product has only existed since January. The iShares Gold ETF has been offered since 2005; BlackRock acquired the business and brand from Barclays in 2009.
As of market close on Thursday, BlackRock’s spot Bitcoin ETF has now accumulated an astonishing $33.17 billion in value, according to data self-reported by the firm. BlackRock’s gold ETF now trails that figure slightly, with $32.96 billion in net assets.
Bitcoin and gold are often seen as comparable stores of value, with BTC long referred to as “digital gold” by many cryptocurrency advocates.
BlackRock’s Bitcoin strength was unquestionably bolstered by Donald Trump’s
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Author: Sander Lutz
