The US Bitcoin exchange-traded fund (ETF) now exceeds the gold ETF in terms of total assets, a feat achieved less than a year after its creation.
According to data from K33 Research, 12 Bitcoin ETFs have total assets of $129.3 billion. On the other hand, the total holdings of gold ETFs are slightly smaller at $128.9 billion. The change highlights Bitcoin's rapid rise in the ETF market, outpacing gold, which has enjoyed two decades of dominance.
Investor appetite for BTC ETFs has soared, especially following the success of pro-crypto candidate Donald Trump in the November 5 US election. The sector's growth has been further fueled by consistent inflows, with these ETFs up for 13 consecutive days. It raised over $2 billion.
BlackRock's iShares Bitcoin Trust (IBIT) leads the market with over $54 billion in assets. This figure is nearly double the holdings of iShares Gold Trust (IAU), confirming BTC's growing dominance in the sector.
Meanwhile, Grayscale's Bitcoin Trust (GBTC) and Fidelity's Wise Origin Bitcoin Fund (FBTC) also play important roles, each managing around $22 billion in assets.
