As of November 11, U.S.-traded spot BTC ETFs hold $84 billion, roughly equivalent to 66% of the total assets under management (AUM) of gold ETFs.
Eric Balchunas, senior ETF analyst at Bloomberg, believes that according to the current growth trajectory of spot BTC ETFs, it is expected to completely surpass the asset management scale of gold ETFs in the next two months.
Balchunas added: “That’s a lot lower than my initial estimate of four to five years.”
Meanwhile, The ETF Store CEO Nate Geraci recently highlighted that BlackRock’s iShares BTC ETF (IBIT) has more assets under management than the firm’s gold ETF, the iShares Gold ETF (IAU).
Geraci noted that it took BlackRock’s gold ETF 20 years to reach this level, while the BTC ETF took less than 10 months.
Data from Farside Investors shows that spot BTC ETFs set multiple records last week.
On November 7, IBIT’s single-day inflows exceeded $1 billion, pushing the total inflows of spot BTC ETFs to more than $1.3 billion, setting a new collective record.
IBIT closed with $4.1 billion in trading volume on November 7, the most significant trading activity since its launch.
Spot BTC ETFs traded in the United States recorded a total trading volume of $6 billion, once again breaking the record for newly issued funds.
Balchunas stressed that IBIT’s trading volume for the day was higher than that of conglomerate stocks such as Berkshire, Netflix and Visa.
After BTC hit a new ATH over the weekend and continued to rebound, IBIT recorded $1 billion in trading volume within the first 35 minutes of trading on November 11.
Other ETFs have experienced similar surges, and Bitwise CEO Hunter Horsley said the company’s products are seeing “tremendous volumes.”
Geraci predicted that more crypto asset-related ETFs may be listed this week, such as XRP, Solana (SOL), and Cardano (ADA).
Geraci explained that several publishers were “highly prepared” for the election outcome, and in the current market landscape, it doesn’t hurt to be aggressive.
