Blackrock's Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World's Biggest Gold ETF In January?

Benzinga2024-12-31

The iShares Bitcoin Trust ETF IBIT by BlackRock Inc. BLK, which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday. What Happened: ...

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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlackrock's Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World's Biggest Gold ETF In January?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-31 17:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/24/12/42737368/blackrocks-bitcoin-fund-breaks-records-with-historic-etf-launchwill-it-surpass-the-worlds-biggest-gold-etf-in-january><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The iShares Bitcoin Trust ETF IBIT by BlackRock Inc. BLK, which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday.\nWhat Happened: ...</p>\n\n<a href=\"https://www.benzinga.com/24/12/42737368/blackrocks-bitcoin-fund-breaks-records-with-historic-etf-launchwill-it-surpass-the-worlds-biggest-gold-etf-in-january\">Source 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a report said Monday.\nWhat Happened: The investment vehicle, which tracks the spot price of the world’s biggest cryptocurrency Bitcoin BTC/USD, exceeded $50 billion in assets under management within its debut year, an unprecedented feat in the 30-year history of ETFs, according to Bloomberg. \nIBIT clocked the $50 billion mark five times faster than the next quickest ETF, BlackRock’s own iShares Core MSCI EAFE ETF IEFA, which took nearly four years to achieve the same milestone, Bloomberg ETF analyst Eric Balchunas stated recently.\n\n$IBIT is now over $50b. It took it 228 days to reach this milestone, the next fastest ETF to reach 50b was $IEFA in 1,329 days. So over 5x faster than any ETF ever launched. Ridiculous. h/t @JackiWang17 for the data https://t.co/K9vRfAir8U— Eric Balchunas (@EricBalchunas) December 5, 2024\n\nIBIT also held more assets than BlackRock’s Gold ETF, namely, iShares Gold Trust IAU, as of this writing. Balchunas saw a strong possibility of IBIT beating SPDR Gold Trust GLD, the world’s biggest gold ETF, as early as Jan. 11 to become the “king of store of value ETFs.”\n\nAnd near lock that $IBIT passes $GLD as the king of store of value ETFs, curr has 78% of GLD's assets, there's even outside chance it does it by Jan 11th within its first year. Another crazy feat a la this fastest ETFs to $50b chart: pic.twitter.com/lkvRKv5lOB— Eric Balchunas (@EricBalchunas) December 19, 2024\n\nSee Also: Trump-Backed Platform’s Pick, Year’s Chart Topper: 6 New Cryptos Added To Grayscale’s ‘Top 20’ List With Growth Potential In Q1 2025\nWhy It Matters: This record-breaking performance by IBIT occurred in a momentous year when spot cryptocurrency ETFs made their debut on Wall Street. \nAs many as 12 spot ETFs were listed early in January, serving as key drivers for Bitcoin’s record surge beyond $100,000. \nWhile still far behind, Balchunas felt IBIT could exceed SPDR S&P 500 ETF Trust SPY, the oldest and largest ETF in the U.S. with $637 billion in AUM, but warned that the process would take time.\nPrice Action: Shares of IBIT closed 0.24% lower at $53.55 during Monday's regular session, according to data from Benzinga Pro. As of this writing, Bitcoin exchanged hands at $93,940.67, up 0.22% in the last 24 hours.\nRead Next: \n\nNBA Star Scottie Pippen’s ‘Satoshi Nakamoto-Delivered’ Bitcoin Forecasts Fairly Accurate, Says Financial Analyst\n\nPhoto courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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