 | 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. 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’ first gold ETF — SPDR Gold Shares (GLD) — took more than two years to do the same following its launch in 2004, according to the Zero Hedge finance blog. SPDR Gold Shares (GLD) AUM five years. Source: Ycharts There were several days of record inflows to spot Bitcoin ETFs last week, with Feb. 26, 27 and 28 exceeding $500 billion for the new nine ETFs. Bitcoin and gold ETF flows comparison. Source: X/JeffKirdeikis Goldbug Peter Schiff wasn’t swayed. On March 2, he said 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.” [link] [comments] |
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