BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has surpassed the assets under management of its iShares Gold ETF (IAU), just 10 months after its launch.
IBIT has accumulated $33.17 billion in assets, exceeding IAU's $32.96 billion, marking a significant milestone.
The success of IBIT can be attributed to its bullish strength, boosted by Donald Trump's support for the crypto sector during his presidential campaign.
The victory of Trump is also expected to open doors for several proposed cryptocurrency ETFs awaiting approval from U.S. regulators.