Blackrock's iShares Bitcoin Trust (IBIT) has amassed over $33 billion in assets, surpassing the asset manager’s gold ETF, the iShares Gold Trust (IAU), which has been trading since 2005. This remarkable achievement comes just 10 months after IBIT's launch in January 2024. According to Nate Geraci from The ETF Store, this rapid growth is unprecedented in the ETF market. The surge in Bitcoin's popularity followed Donald Trump’s recent U.S. presidential election victory, which many believe will positively impact the cryptocurrency industry. On Nov. 6, IBIT experienced significant investor interest, reversing prior outflows of $113.3 million. As Bitcoin prices reached over $76,800, the cryptocurrency has dominated the ETF landscape, accounting for six of the top 10 most successful launches in 2024, with most significant inflows directed towards spot Bitcoin ETFs.

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