The Bitcoin community is buzzing with reactions as the BlackRock spot Bitcoin ETF surpasses the iShares Silver Trust, the largest Silver ETF, in terms of assets under management (AUM), according to a new report.
Miguel Cuneta, a user on X, shared his perspective on this development, suggesting that Bitcoin is an “apex predator of money” and is asserting its dominance over other “dinosaurs”, implying financial institutions.
According to an X post by HODL15Capital on Sunday, March 3, 2023, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated over $10.3 billion worth of Bitcoin in its portfolio, with a 35.2% increase in its year-to-date value. On the other hand, iShares Silver Trust currently has $9.6 billion worth of assets under management (AUM), with a decrease of 4.8% from its year-to-date value.
The report further highlighted that four out of the top thirteen U.S. ETFs are spot Bitcoin ETFs. Notable names in this category include BlackRock, Fidelity Investments, Ark21Shares, and Bitwise Bitcoin ETFs, securing the 3rd, 5th, 9th, and 11th positions, respectively, in terms of assets under management in the U.S.
Ahead of BlackRock’s iShares Bitcoin ETF are SPDR Gold Shares and iShares Gold Trust ETFs, which have over $53.7 billion and $25.4 billion worth of assets under management and which have experienced a 1.0 decrease from their year-to-date value.
In the race for Hard Money, there is No second best!$BTC vs Gold and Silver ETFs ( $GLD and $SLV )???? https://t.co/PqsWcb6r4w pic.twitter.com/cySNYwzU57
— HODL15Capital ???????? (@HODL15Capital) March 3, 2024
Eleven Bitcoin ETFs were introduced to the United States financial market in January 2024 when the Securities and Exchange Commission (SEC) authorised them after over a decade of back and forths between providers and regulators. Since their introduction, the funds have been recording massive investment interests and outperforming other forms of ETFs. Notably, Bitcoin ETFs were reported in February to record over $4.1 billion in inflows, while Gold ETFs bled over $2.39 billion in the same period.
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