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BlackRock’s Bitcoin ETF Surpasses Gold

BlackRock’s Bitcoin ETF Surpasses Gold

AltcoinbuzzAltcoinbuzz2024/11/11 16:44
By:By Victor -Ezekiel Ng -

BlackRock, one of the world’s biggest investment companies, has a new star in its lineup.

BlackRock’s Bitcoin ETF is now officially bigger than its famous Gold ETF.

In just 10 short months, the Bitcoin ETF attracted a whopping $33.2 billion from investors, making it a massive success. To put it in simple terms, this Bitcoin ETF is now worth more than the company’s long-standing Gold ETF, which used to be the big player.

What’s an ETF?

An ETF , or Exchange-Traded Fund, is like a big basket of money from many different people who want to invest in something. Instead of everyone buying individual pieces of Bitcoin or gold, they can buy a share of an ETF, which invests in Bitcoin, gold, or other assets. This way, people can get a taste of investing in these things without having to own them directly.

iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF (IAU) in assets…

Did this in 10mos.

IAU launched in January 2005.

Absolutely wild. pic.twitter.com/dLi16A28Gc

— Nate Geraci (@NateGeraci) November 8, 2024

For years, gold has been considered a “safe haven” for investors—a safe place to put money during uncertain times. So, BlackRock’s Gold ETF was very popular. But now, the Bitcoin ETF has surged ahead in value. It shows that more investors are turning their attention to Bitcoin . This change is important because it signals a new way of thinking about where to invest money. Bitcoin is no longer seen as just a “fad.” It’s become a real choice for big-money investors.

More About Bitcoin ETF

Yesterday, U.S. ETFs made history by purchasing a staggering 17,880 Bitcoins, marking the largest daily inflow ever recorded. This massive surge shows a growing interest in Bitcoin as an investment, with ETFs now leading the charge.

NEW: 🇺🇸 U.S. ETFs bought 17,880 #Bitcoin yesterday—the largest daily inflow in history

Gradually, then suddenly! pic.twitter.com/vgtXvxcTlK

— Simply Bitcoin (@SimplyBitcoinTV) November 8, 2024

The move reflects the increasing popularity and trust in Bitcoin, especially as more institutional investors choose Bitcoin-backed ETFs for easier exposure to the cryptocurrency. With such a huge purchase in just one day, it’s clear that Bitcoin is gaining momentum in the world of traditional finance.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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