- BlackRock‘s IBIT Bitcoin ETF surpasses $33 billion in AUM, overtaking its Gold counterpart IAU in just 10 months
- IBIT recorded its highest single-day inflow of $1.120 billion on November 7, following the US election
- The ETF maintains an average daily net inflow of $130.4 million, leading all spot Bitcoin ETFs
- IBIT’s maximum daily outflow of $69.1 million is significantly lower than competitors, with GBTC seeing up to $642.5 million in outflows
- Bitcoin Price increased 15% post-election to $77,240, while gold declined 4% to $2,684
BlackRock’s Bitcoin ETF Achieves Historic Milestone
BlackRock’s IBIT has marked a significant achievement by surpassing $33 billion in assets under management (AUM), overtaking its gold-focused counterpart, the iShares Gold ETF (IAU). This milestone comes just ten months after IBIT’s launch, while IAU has been operating for nearly two decades since January 2005.
The ETF experienced exceptional growth following the US election results, with a record-breaking inflow of $1.120 billion on November 7, followed by an additional $206.1 million on Friday.
IBIT’s Market Leadership
According to Farside data, IBIT maintains a dominant position among spot Bitcoin ETFs with average daily net inflows of $130.4 million, substantially higher than the industry average of $123.1 million. The second-place competitor, Fidelity’s FBTC, trails significantly with $51.2 million in average daily inflows.
IBIT has demonstrated remarkable stability, with maximum daily outflows limited to $69.1 million. In comparison, other ETFs have experienced more substantial withdrawals:
– Fidelity’s FBTC: $191.1 million maximum daily outflow
– Ark Invest’s ARKB: $138.3 million maximum daily outflow
– Bitwise’s BITB: $79.8 million maximum daily outflow
– Grayscale’s GBTC: $642.5 million maximum daily outflow
Market Performance Post-Election
The cryptocurrency and precious metals markets showed divergent responses to the US election results. Bitcoin demonstrated strong positive momentum, rising from $67,000 to reach a new peak of $77,240, representing a 15% increase in just days.
In contrast, gold experienced downward pressure, declining from $2,760 per ounce to $2,640, before stabilizing at $2,684. This 4% decrease highlights the different market reactions to the election outcome.
ETF Market Impact
IBIT’s success represents a significant shift in institutional investment preferences. The ETF’s AUM is approximately three times larger than FBTC’s, with an even wider gap compared to other competitors. This rapid growth suggests strong institutional confidence in Bitcoin as an investment vehicle through regulated ETF products.
The consistent inflow pattern and relatively low maximum outflows indicate that IBIT has attracted more stable, long-term investors compared to other Bitcoin ETFs. This stability factor has contributed to its market leadership position and continued growth trajectory in the competitive cryptocurrency ETF space.
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