BlackRock's Bitcoin ETF Outshines Gold with Record Inflows

BlackRock's Bitcoin ETF, launched in January 2024, has surpassed its gold fund in net assets, reaching $33.2 billion compared to the gold fund's $32.9 billion. This milestone highlights the growing investor interest in cryptocurrency, as the Bitcoin ETF achieved a significant $1.12 billion net inflow in a single day, despite recent outflows. BlackRock's IBIT leads the US Bitcoin ETF market, with Grayscale and Fidelity trailing behind. The surge in the ETF's assets coincides with Bitcoin's price rising above $76,500.