United

Bitcoin ETF

Bitcoin

BlackRock’s iShares Bitcoin Trust (IBIT) has crossed $10 billion in assets under management (AUM) in just over seven weeks — a figure that took the first U.S. gold-backed ETF more than two years to achieve.&nbsp;
As of March 1, BlackRock’s Bitcoin ETF reached $10 billion in AUM — around 39 trading days since launch.
On the other hand, the United States’ <a href="https://cointelegraph.com/news/spot-bitcoin-etf-superior-gold-etf">first gold ETF</a><a href="https://cointelegraph.com/news/spot-bitcoin-etf-superior-gold-etf"></a> — SPDR Gold Shares (GLD) — took more than two years to do the same following its launch in 2004, <a href="https://twitter.com/zerohedge/status/1764417437162729525" target="_blank" rel="noopener nofollow">according</a> to the Zero Hedge finance blog. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/36a8a746-9eeb-44e0-9daa-ffa89418f4c7.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 SPDR Gold Shares (GLD) AUM five years. Source: Ycharts
 </figcaption>
</figure>
“Bitcoin ETF inflows have absolutely blown gold’s out of the water. Not even close, utterly dwarfed, decimated,” said Reflexivity Research co-founder Will Clemente on March 3. 
There were several days of <a href="https://cointelegraph.com/news/nine-spot-bitcoin-etfs-see-2b-volume-two-days-straight"></a><a href="https://cointelegraph.com/news/nine-spot-bitcoin-etfs-see-2b-volume-two-days-straight">record inflows to spot Bitcoin ETFs</a> last week, with Feb. 26, 27 and 28 exceeding $500 billion for the new nine ETFs. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/9a6e0f57-e706-4469-9a3b-7c36a742a7aa.png" alt="" title="">
 <figcaption style="text-align: center;">
 Bitcoin and gold ETF inflows compared. Source: <a href="https://twitter.com/WClementeIII/status/1764012063653851463" target="_blank" rel="noopener nofollow">X/Will</a>
 </figcaption>
</figure>
On March 4, retired venture capitalist Jeff Kirdeikis shared a chart comparing the inflows of BTC ETFs with the outflows of gold funds, adding that Bitcoin products <a href="https://cointelegraph.com/news/bitcoin-etfs-scoop-10-x-more-btc-than-mined">have already accumulated</a><a href="https://cointelegraph.com/news/bitcoin-etfs-scoop-10-x-more-btc-than-mined"></a> almost half of the value of gold funds since their launch in January. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/7fb0a284-a394-4492-8a70-75488b3dd57a.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Bitcoin and gold ETF flows comparison. Source: <a href="https://twitter.com/JeffKirdeikis/status/1764446976228417605" target="_blank" rel="noopener nofollow">X/JeffKirdeikis</a>
 </figcaption>
</figure>
Goldbug Peter Schiff wasn’t swayed. On March 2, he <a href="https://twitter.com/PeterSchiff/status/1763641654144028767" target="_blank" rel="noopener nofollow">said</a> CNBC was so fixated on the “sideshow going on with Bitcoin and the new Bitcoin ETFs, that they haven’t even reported on today’s $43 rise in the price of gold or the new record-high price in the gold ETF GLD.”
Related: <a href="https://cointelegraph.com/news/gold-etfs-bleed-this-year-as-bitcoin-etfs-hit-record-volumes">Gold ETFs bleed $2.4B so far in 2024 as Bitcoin ETFs hit record volumes</a>
Spot gold <a href="https://goldprice.org/gold-price-chart.html" target="_blank" rel="noopener nofollow">prices</a> returned to near-peak levels of $2,081 per ounce on March 3. However, the precious yellow metal has only gained 1% since the beginning of the year. Comparatively, Bitcoin prices have surged 50% over the same period. 
In late February, Bloomberg ETF analyst Eric Balchunas <a href="https://twitter.com/EricBalchunas/status/1762099636775395381" target="_blank" rel="noopener nofollow">said</a>, “Gold’s pain is Bitcoin ETFs’ gain in the store of value smackdown.” He added that there was a “decent chance” that Bitcoin ETFs would surpass gold ETFs in AUM in less than two years. 
Magazine: <a href="https://cointelegraph.com/magazine/real-life-doge-18-meme-going-to-the-moon/">Real-life Doge at 18: Meme that’s going to the moon</a>

First gold ETF took 2 years to hit $10B, this Bitcoin ETF did it in 2 months

Cointelegraph

2024年3月4日公開の他の記事

Bitcoin Options Market Sees Surge in Activity

DEVAI: The Hidden AI Gem of 2024 Set to Transform Investors into Millionaires

XRP Price Set To Hit $1 In March: Crypto Analyst

If Bitcoin Exceeds $69,000, How Far Will the New Record Extend? Tether Co-Founder Disclosed

SHIB price explosion sees 170% rally in a week; What’s happening?

Breaking: Crypto Stocks Rally After Massive $1.8B Bitcoin, ETH ETF Inflow

ニュースレターを購読して暗号資産の最新情報を毎日入手！