iShares Bitcoin ETF now bigger than gold counterpart following rush into crypto on Trump win
Blackrock iShares Bitcoin Trust ETF (IBIT) signage at the Nasdaq MarketSite in New York on Jan. 11, 2024.
Michael Nagle | Bloomberg | Getty Images
The rapidly growing iShares Bitcoin Trust (IBIT) has now blown past one of the biggest funds in an old-school category of investing: gold.
According to FactSet, the bitcoin exchange-traded fund had roughly $34.3 billion in AUM as of Friday. That puts it above the iShares Gold Trust (IAU), which had just under $33 billion.
The asset numbers do not yet reflect the most recent crypto rally over the weekend, when bitcoin surged above $80,000. IBIT was up about 6% in morning trading Monday.
The largest bitcoin ETF was rallying on Monday as the cryptocurrency hit record…
