Bitcoin exchange-traded funds (ETFs) in the United States have surpassed $100 billion in net assets for the first time, reaching approximately $104 billion as of November 21, according to Bloomberg Intelligence. The surge in interest followed the victory of President-elect Donald Trump in the recent elections, which many believe will favor the cryptocurrency industry. Bitcoin ETFs are on track to outpace gold ETFs, which currently manage around $120 billion. Eric Balchunas, an ETF analyst at Bloomberg, noted that Bitcoin ETFs are closing in on surpassing Satoshi Nakamoto as the largest holder of Bitcoin, and they are also nearing gold ETFs in asset management. Among the various Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) has led with $30 billion in inflows since January, followed by Fidelity’s Wise Origin Bitcoin Fund with more than $11 billion. As the market responds to Trump’s election win and rising geopolitical tensions, Bitcoin prices have surged nearly 120% this year, trading over $96,000 as of November 21, according to Google Finance data.

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