Bitcoin ETFs on track to overtake gold ETFs within 2 months

As of Nov. 11, US-traded spot Bitcoin (BTC) exchange-traded funds (ETFs) held $84 billion, equating to astir 66% of golden ETFs’ full assets nether absorption (AUM).

According to elder Bloomberg ETF expert Eric Balchunas, spot Bitcoin ETFs’ existent maturation trajectory is connected way to fully overtake the AUM of golden ETFs successful the adjacent 2 months. He added that this is magnitudes little than his archetypal timeline of 4 to 5 years.

Meanwhile, The ETF Store CEO Nate Geraci precocious highlighted that BlackRock’s iShares Bitcoin ETF (IBIT) surpassed the AUM of the firm’s golden counterpart iShares Gold ETF (IAU). He noted that it took BlackRock’s golden ETF 20 years to scope this point, portion it took the Bitcoin ETF little than 10 months.

Record-breaking week

Farside Investors’ information shows that spot Bitcoin ETFs registered aggregate records past week. IBIT surpassed $1 cardinal successful inflows successful a azygous time connected Nov. 7, prompting the full inflows for spot Bitcoin ETFs to implicit $1.3 billion, a caller corporate record.

IBIT closed connected Nov. 7 with $4.1 cardinal successful trading volume, the astir important trading enactment since its launch. Collectively, the US-traded spot Bitcoin ETFs registered $6 cardinal successful volume, different grounds for the radical of recently launched funds.

Balchunas highlighted that IBIT’s measurement was higher than consolidated stocks specified arsenic Berkshire, Netflix, and Visa connected that day.

IBIT reached $1 cardinal successful trading measurement successful the archetypal 35 minutes of trading connected Nov. 11 aft Bitcoin reached a caller ATH implicit the play and continued to rally. The different ETFs experienced a akin surge, with Bitwise CEO Hunter Horsley saying the company’s products are seeing “huge volumes.”

Geraci predicted that much crypto-related ETFs whitethorn get listed this week, citing XRP, Solana (SOL), and Cardano (ADA). 

He explained that aggregate issuers were “highly prepared” for the predetermination results and determination is nary downside to getting assertive successful the existent marketplace landscape.

The station Bitcoin ETFs connected way to overtake golden ETFs wrong 2 months appeared archetypal connected CryptoSlate.