Bitcoin ETF expected to surpass gold ETF in two months?

Source: cryptoslate Compiled by: Blockchain Knight

As of November 11, spot BTC ETFs traded in the United States held $84 billion, which is approximately 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 exceed the asset management scale of gold ETFs in the next two months.

Balchunas added: "This is much lower than the four to five years I originally expected."

Meanwhile, Nate Geraci, CEO of The ETF Store, recently emphasized that the asset management scale of BlackRock's iShares BTC ETF (IBIT) exceeds that of the company's gold ETF, 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.

Spot BTC ETFs set multiple records last week, according to Farside Investors.

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 volume on November 7, the most significant trading activity since its launch.

Spot BTC ETFs traded in the U.S. recorded a total of $6 billion in volume, again setting a new record for newly issued funds.

Balchunas highlighted that IBIT’s volume for the day was higher than that of composite stocks such as Berkshire, Netflix, and Visa.

After BTC hit a new ATH over the weekend and continued to rebound, IBIT reached $1 billion in volume in the first 35 minutes of trading on November 11.

Other ETFs have experienced similar surges, and Bitwise CEO Hunter Horsley said that the company’s products are seeing "huge trading volume".

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 issuers are "highly prepared" for the election results, and in the current market landscape, it doesn't hurt to be aggressive.