Analyst Bitcoin ETF Asset Size Set to Surpass Gold ETF as Trading Volume Soars to 30 Billion Yuan in 35 Minutes

What happened?
Bloomberg senior ETF analyst predicts that the total assets of the US Bitcoin ETF may surpass that of the gold ETF in the next two months.
Investors are optimistic about the inflow of funds into Bitcoin-related products for several reasons, including Donald Trump’s victory, the Fed’s interest rate cut, and the belief that the next US Congress will be more supportive of cryptocurrencies.
Following this optimistic sentiment and trend, more cryptocurrency ETFs are expected to be listed in the next week, including XRP, Solana (SOL), and Cardano (ADA).
The total assets of the US Bitcoin ETF will surpass gold.
According to the foreign media CryptoSlate, the assets under management (AUM) of the US Bitcoin ETF have reached $84 billion, which is about 66% of the AUM of the gold ETF.
Recently, Eric Balchunas, a senior ETF analyst at Bloomberg, predicted that based on the growth rate, the assets of the Bitcoin ETF may surpass the gold ETF in the next two months, which is faster than his previous estimate of “four to five years”.
In fact, according to Bloomberg’s report on November 9th, the asset size of BlackRock’s iShares Bitcoin ETF (IBIT) has already surpassed its iShares gold ETF. It is worth noting that it took 20 years for the gold ETF to reach this asset size, while Bitcoin IBIT achieved it in less than 10 months, indicating the rapid growth in demand for Bitcoin ETFs.
Bloomberg pointed out that market participants are optimistic about the inflow of funds into Bitcoin-related products, with main reasons including Trump’s victory, the Fed’s interest rate cut, and the belief that the next US Congress will be more supportive of cryptocurrencies.
Bitcoin price and related ETF products continue to break records.
In the past week, in addition to the continuous rise in the price of Bitcoin, the inflow of funds into Bitcoin ETFs has also continued to grow.
According to data from UK asset management company Farside Investors, the spot Bitcoin ETF set multiple records last week. For example, on November 7th, the trading volume of IBIT reached $4.1 billion, the highest trading activity since its listing. Overall, the trading volume of Bitcoin ETFs listed in the US that day was $6 billion.
Balchunas pointed out that the trading volume of IBIT on that day exceeded the combined trading volume of large stocks such as Netflix and Visa.
Furthermore, as Bitcoin continued to soar over the weekend, IBIT attracted $1 billion in trading volume in just 35 minutes on November 11th.
Following this optimistic sentiment and trend, Nate Geraci, CEO of investment advisory firm The ETF Store, predicts that more cryptocurrency ETFs, including XRP, Solana (SOL), and Cardano (ADA), may be listed in the next week. He stated that many issuers have made sufficient preparations for the market changes that may result from the election results and are accelerating the launch of new products.
Source:
CryptoSlate, Bloomberg