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Bitcoin ETFs achieved a record-breaking $104 billion in net assets, boosted by Donald Trump’s presidential win and growing investor appetite for cryptocurrencies. With Bitcoin ETFs rapidly closing the gap with gold ETFs, they mark a turning point in asset investment trends.
Bitcoin ETFs Surpass $100 Billion in Assets
According to Bloomberg Intelligence, U.S. Bitcoin (BTC) ETFs' net assets surpassed $100 billion for the first time on November 21.
When spot BTC ETFs first debuted in January, Bitcoin quickly became the market leader in exchange-traded funds. In the aftermath of US President-elect Donald Trump's victory on November 5, crypto-friendly sentiment among investors picked up speed.
There are currently around $104 billion managed by Bitcoin ETFs. With a combined AUM of almost $120 billion as of November 21, according to the Bitcoin Archive, they are well on their way to overtaking gold ETFs in terms of net assets.
Crypto ETFs are "now 97% of way to passing Satoshi as biggest holder and 82% of way to passing gold ETFs," stated Eric Balchunas, an ETF analyst for Bloomberg Intelligence, in a post on the X platform on November 21.
BlackRock and Fidelity Dominate the Bitcoin ETF Landscape
Bloomberg reports that the most heavily invested cryptocurrency trust is BlackRock's iShares Bitcoin Trust (IBIT), which has received $30 billion in net inflows since January.
According to Bloomberg, the second most popular Bitcoin exchange-traded fund (ETF) this year has been Fidelity Wise Origin Bitcoin Fund (FBTC), which has received over $11 billion in investments.
Many people think that Trump's victory will be good for the cryptocurrency business, hence the market for cryptocurrencies jumped after his election, according to Cointelegraph.
As of November 21, spot Bitcoin was trading at over $96,000, an increase of about 120% from the beginning of 2024, according to data from Google Finance.
According to a post by Balchunas on Nov. 6 X, IBIT had its "biggest volume day ever" on Nov. 6 as investors rushed to cryptocurrency following Trump's election victory.
Record Inflows Drive Investor Confidence
According to Farside data, IBIT regained its inflow status on November 7 with $1.1 billion in inflows, after two days of outflows totaling $113.3 million.
MV Global predicted that the price of one bitcoin will reach $100,000 to $150,000.
According to BlackRock's data, despite launching only in January, BlackRock's IBIT already has more assets than the asset manager's gold ETF.
According to a research by JPMorgan on Oct. 3, investors are shifting their focus toward gold and Bitcoin in what they are calling a "debasement trade" in preparation for a "catastrophic scenario" caused by increasing geopolitical tensions.
