Crypto News – In just over seven weeks, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed $10 billion in assets under management (AUM), a milestone that took more than two years for the first gold-backed ETF in the United States to reach.
Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How?
![Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How? | Crypto Data Space Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How?](https://cryptodataspace.com/wp-content/uploads/2024/03/Gold-ETF-vs.-Bitcoin-ETF-One-Took-2-Years-to-Reach-10-Billion-While-the-Other-Did-It-in-2-Months-But-How-3-1024x683.png)
However, the Zero Hedge finance blog notes that it took more than two years for SPDR Gold Shares (GLD), the country’s first gold exchange-traded fund, to follow suit when it was introduced in 2004.
![Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How? | Crypto Data Space Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How?](https://cryptodataspace.com/wp-content/uploads/2024/03/Gold-ETF-vs.-Bitcoin-ETF-One-Took-2-Years-to-Reach-10-Billion-While-the-Other-Did-It-in-2-Months-But-How-2-1024x683.jpg)
Last week, there were multiple days of record inflows into Bitcoin ETFs, with the new nine reaching over $500 billion on February 26, 27, and 28.
Bitcoin ETF inflows have absolutely blown gold’s out of the water. Not even close, utterly dwarfed, decimated,
Will Clemente, Reflexivity Research co-founder
![Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How? | Crypto Data Space Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How?](https://cryptodataspace.com/wp-content/uploads/2024/03/Gold-ETF-vs.-Bitcoin-ETF-One-Took-2-Years-to-Reach-10-Billion-While-the-Other-Did-It-in-2-Months-But-How-4-1024x683.png)
Jeff Kirdeikis Compares the Inflows and Outflows of Gold Funds
Former venture capitalist Jeff Kirdeikis published a chart on March 4 that contrasts the inflows and outflows of gold funds and shows that, since their inception in January, Bitcoin products have already amassed over half the value of gold funds.
![Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How? | Crypto Data Space Gold ETF vs. Bitcoin ETF: One Took 2 Years to Reach $10 Billion, While the Other Did It in 2 Months, But How?](https://cryptodataspace.com/wp-content/uploads/2024/03/Gold-ETF-vs.-Bitcoin-ETF-One-Took-2-Years-to-Reach-10-Billion-While-the-Other-Did-It-in-2-Months-But-How-5-1024x683.png)
On March 3, spot gold prices rose again to almost all-time highs of $2,081 an ounce; however, the price of the valuable yellow metal has only increased by 1% since the year’s start. In contrast, over the same time frame, the price of Bitcoin has increased by 50%. In less than two years, according to Eric Balchunas, there is a “decent chance” that AUM for Bitcoin ETFs will surpass that of gold ETFs.
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