BlackRock's Bitcoin ETF, IBIT, has passed a major milestone, surpassing the net assets of the iShares Gold ETF (IAU) on Nov. 7. IBIT launched in January 2024, while IAU had its launch in January 2005, The Block has reported.
On the same day that IBIT reached this milestone, it also saw a record net inflow of $1.1 billion.
According to Jeff Mei, chief operating officer of BTSE, the recent US election results and the Federal Reserve's rate cut have encouraged institutions to invest in the crypto market.
With the possibility of further rate cuts, favorable regulations and stimulus in China, experts predict that more institutions will continue to invest in BlackRock's Bitcoin ETF in the coming months.