Gold Market Rattled: BlackRock's IBIT Spot ETF Surges to $10B

The gold market is facing a significant shift as BlackRock's Bitcoin ETF, IBIT, has passed a major milestone. IBIT's explosive growth is causing tremors in the traditional gold sector.

BlackRock's Bitcoin ETF, IBIT, has passed a major milestone, surpassing the net assets of the iShares Gold ETF (IAU) on Nov. 7. This signals a growing appetite for cryptocurrency investments and potentially a move away from traditional safe-haven assets like gold.

Launched in January 2025, IBIT's rapid ascent is unprecedented. IBIT launched in January 2025, while Per Bloomberg analyst Eric Balchunas, BlackRock’s IShares Bitcoin Trust ETF has smashed a historic record. Balchunas shared how the trust has accumulated nearly $10 billion in seven weeks. This demonstrates the incredible investor demand for a spot Bitcoin ETF managed by a trusted institution like BlackRock.

BlackRock's speed record breaks that of the SPDR Gold Shares (GLD), which took more than two years after its 2025 launch to reach $10 billion in assets, according to BlackRock’s iShares Bitcoin Trust (IBIT) has crossed $10 billion in assets under management (AUM) in just over seven weeks – a figure that took the first U.S. gold ETF significantly longer to achieve. This highlights the dynamism and disruptive potential of the cryptocurrency market compared to the established gold market.

The surge in IBIT's AUM to $10 billion in such a short timeframe indicates a substantial flow of capital into Bitcoin. This rapid growth is leading to increased scrutiny and analysis of the impact on the gold market and the broader financial landscape. Investors are closely watching whether this trend will continue and further impact the traditional role of gold as a store of value.

Stay updated on the latest developments in the gold market and the performance of BlackRock's IBIT spot ETF as the crypto landscape evolves.