Blackrock’s Bitcoin spot ETF hits $10B in 39 days, 18 times faster than Gold ETF

On Mar 4, 2024

The trade volume of the Bitcoin spot ETF hit a new milestone in comparison to the yellow metal ETF. Veteran Bitcoin traders predicted huge pump possibilities in the trade price of Bitcoin shortly.

We know that a total of 11 Bitcoin spot ETF applications were approved by the United States Securities and Exchange Commission (SEC) in Jan of this year. Before the approval of these applications, no one expected that the inflow of money in the Bitcoin market would be very high & rapid but the current picture shows that Bitcoin is above the imagination of top financial analysts.

In only 39 days, between 10 Jan to 1 March) BlackRock’s Bitcoin ETF reached $10 billion in AUM. The United States’ first gold ETF — SPDR Gold Shares (GLD) took more than 24 months to hit the $10 billion milestone.

BlackRock’s iShares Bitcoin Trust has accumulated $10 BN in just seven weeks — the fastest an ETF has ever hit that milestone and a feat which the first gold ETF took more than two years to accomplish: BBG
— zerohedge (@zerohedge) March 3, 2024

The inflow of money in the currently active nine Bitcoin spot ETF products is also impressive, on Feb. 26, 27 and 28 exceeding $500 billion for the new nine ETFs.

#Bitcoin and gold ETF inflows comparison is showing a very big picture
Source: X/Will pic.twitter.com/bOfEkLeI1x
— Bitcoinik (@Bitcoinikdotcom) March 4, 2024

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Notably Bitcoin spot ETF products significantly impacted the Gold ETF market. In the last 30 days, the BTC ETF gathered 50% value of the Gold ETF. In short, Bitcoin is eating the Gold ETF.

Bitcoin is eating Gold.

Bitcoin ETF's are inflowing in record amounts, while Gold ETF's are outflowing Billions.

Bitcoin ETF's have already gathered ~50% of the value of Gold ETF's in a single month.

Gold has been the leader for thousands of years.
We're witnessing history. pic.twitter.com/XNQLLEk122
— Jeff Kirdeikis (@JeffKirdeikis) March 4, 2024

Because of the better performance of the Bitcoin spot ETF market, the majority of the mainstream media reports cover news around Bitcoin ETF, instead of Gold.

Popular Gold proponent & Global Economist Peter Schiff targeted CNBC media and urged them to cover the reports equally on all types of top financial assets.

#CNBC is so fixated on the sideshow going on with #Bitcoin and the new #BitcoinETFs, that they haven't even reported on today's $43 rise in the price of #gold, or the new record-high price in the gold ETF $GLD. This lack of mainstream coverage is just one of many bullish signs.
— Peter Schiff (@PeterSchiff) March 1, 2024

Just a day ago, Gold ETF GLD price surged nearly $43 & hit an all-time high. Schiff said that CNBC failed to talk about the Gold ETF price pump but covered the Bitcoin ETF multiple times.