In a significant development, BlackRock’s iShares Bitcoin Trust (IBIT), launched on January 11th, has quickly climbed the ranks among commodity exchange-traded funds (ETFs) in terms of assets under management (AUM).
BlackRock’s IBIT Hits $10.03B in AUM
According to HODL15Capital, IBIT’s current AUM of $10.03 billion now surpasses the largest silver ETF, SLV, which holds $9.6 billion. The $10.03 billion in AUM places IBIT in the third position among commodity ETFs.
https://twitter.com/HODL15Capital/status/1764123480373469255
Interestingly, this impressive growth comes just seven weeks after trading for IBIT opened.
SPDR Gold Shares (GLD) is ranked number one, while iShares Gold Trust (IAU) is second.
Meanwhile, other notable Bitcoin-related ETFs saw significant rankings. Fidelity Wise Origin Bitcoin Fund (FBTC), with $6.5 billion in AUM, ranks fifth; ARK 21Shares Bitcoin ETF (ARKB), with $2.1 billion, came in ninth, while Bitwise Bitcoin ETF (BITB), with $1.5 billion, secured the eleventh position.
YTD Performance
Data shows that these Bitcoin-related ETFs have also outperformed other commodity ETFs in year-to-date (YTD) performance.
According to the data, IBIT, FBTC, ARKB, and BITB have all simultaneously surged by 35.2% YTD.
In contrast, other commodity ETFs in the top 13 have seen their AUM decrease from 1% to 4%, except United States Oil Fund (USO), which surged by 10%.
Meanwhile, this rapid adoption of spot Bitcoin ETFs highlights the growing interest in the asset class, particularly among institutional investors. The ease of access and convenience offered by ETFs compared to directly holding cryptocurrencies appears to be the main driver behind this heightened adoption.
While the future of these ETFs remains uncertain, their early success suggests that they could play a significant role in the financial sector.
