As of November 11, spot BTC ETFs traded in the U.S. hold $84 billion, which is roughly equivalent to 66% of the total assets under management (AUM) of gold ETFs.
Eric Balchunas, senior ETF analyst at Bloomberg, believes that on the current growth trajectory of spot BTC ETFs, it is expected to completely surpass the AUM of gold ETFs in the next two months.
Balchunas added: "This is much lower than my initial expectation of four to five years."
Meanwhile, Nate Geraci, CEO of The ETF Store, recently highlighted that BlackRock's iShares BTC ETF (IBIT) has surpassed the company's gold ETF, the iShares Gold ETF (IAU) in terms of AUM.
Geraci pointed out that it took BlackRock's gold ETF 20 years to reach this level, while the BTC ETF took less than 10 months.
Spot BTC ETFs set multiple records last week, according to Farside Investors.
On November 7, IBIT’s single-day inflows exceeded $1 billion, pushing the total inflows of spot BTC ETFs to more than $1.3 billion, setting a new collective record.
IBIT closed with $4.1 billion in trading volume on November 7, the most significant trading activity since its launch.
Spot BTC ETFs traded in the United States recorded a total of $6 billion in trading volume, once again setting a record for newly issued funds.
Balchunas highlighted that IBIT’s trading volume for the day was higher than that of composite stocks such as Berkshire, Netflix, and Visa.
After BTC hit a new ATH over the weekend and continued to rebound, IBIT reached $1 billion in trading volume within the first 35 minutes of trading on November 11.
Other ETFs have experienced similar surges, and Bitwise CEO Hunter Horsley said the company’s products are seeing “tremendous trading volume.”
Geraci predicted that more Crypto asset-related ETFs may be listed this week, such as XRP, Solana (SOL), and Cardano (ADA).
Geraci explained that multiple issuers are “highly prepared” for the election results, and it doesn’t hurt to be aggressive in the current market landscape.
The SEC has asked Solana ETF issuers to quickly update their filings, speeding up the approval process with decisions possible within weeks. This includes allowing staking features, which could boost investor interest and confidence in Solana.
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