30s Summary

Blackrock’s Bitcoin ETF (IBIT), launched just 10 months ago, is already valued more than its gold ETF (IAU), which has been trading since 2005. This surge coincides with increased investment in cryptocurrencies following Trump’s election victory. Six of the top ten successful launches this year were Bitcoin ETFs. As a result, numerous crypto ETF proposals are waiting for approval in the US, including for coins like Solana, XRP, and Litecoin.

Full Article

Blackrock’s Bitcoin (BTC) exchange-traded fund (ETF) is making waves, now valued more than its gold ETF. And here’s the cool part – it just launched in January! By Nov. 8, iShares Bitcoin Trust (IBIT), worth over $33 billion, was meeting iShares Gold Trust (IAU), which is a bit shy of that. The wild thing is, it only took IBIT 10 months to catch up to the IAU which has been trading since 2005, says Nate Geraci, a big name at The ETF Store.

Remember that huge increase in the crypto market after Trump won the elections? Well, some people believe it did wonders for the industry. Following this surge, Nov. 6 saw the highest trading volume ever for IBIT as investors started leaning more towards cryptocurrencies.

By the 7th, IBIT had a huge amount of money flowing in – we’re talking $1.1billion – bouncing back from a couple of days with money flowing out. Meanwhile, Bitcoin kept doing its thing, reaching new record highs each day with prices shooting over $76,800.

Interestingly, six of the top ten successful launches this year were dominated by Bitcoin in the ETF game. Plus, the four most successful new ETFs launched among the roughly 400 in 2024 were all Bitcoin ETFs.

With Trump’s win, a bunch of proposed crypto ETFs is now in the pipeline for approvals to list in the US. In 2024, there was a ton of paperwork to list ETFs holding other coins, like Solana (SOL), XRP (XRP), and Litecoin (LTC). Some are also waiting to get the green light for their crypto index ETFs holding a variety of tokens. Let’s see where this takes us!