BlackRock’s Bitcoin ETF Surpasses Silver Trusts with $10 Billion in Assets

When the first gold ETF came out, it took a couple of years to reach $10 billion in AuM (assets under management). How long did it take Blackrock’s $IBIT? 2 months. 😱

Bitcoin spot ETFs have now eclipsed the largest silver trusts regarding assets under management (AuM), setting their sights on surpassing gold trusts next. According to recent data from HODL15Capital, BlackRock’s IBIT has achieved an impressive milestone, amassing an AuM of $10.03 billion, translating to a remarkable year-to-date (YTD) increase of 35.2%.

https://twitter.com/HODL15Capital/status/1764123480373469255

This surge places the iShares Silver Trust ($SLV), with its $9.626 billion AuM and a 4.8% YTD decline, in the rearview mirror, marking a significant shift in investor preference towards digital assets over traditional commodities. Not far behind BlackRock in the crypto ETF space is Fidelity’s WiseOrigin Bitcoin ETF, boasting an AuM of $6.55 billion and mirroring BlackRock’s 35.2% YTD growth.

Stocktwits Sentiment Scores

How does the Stocktwits community feel about Bitcoin ETFs vs. silver or gold ETFs? Apparently, they like them both. A lot. 🤯

BTW – data on the Bitcoin ETFs is still very new, so we’ll just use $BTC as  the stand in. 

Gold ETF ($GLD)

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Silver ETF ($SLV)

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Bitcoin ($BTC)

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Look at the 1-minute chart below from yesterday’s intraday price action on $SHIB. 🤯

It was one of the craziest swings of all the major market cap memecoins by far, just an insane move. And how did the Stocktwits SHIB stream react? Like you’d expect any high class degen to react: Unf*cking fazed.

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When bulls get liquidated, bears get excited. When bears get liquidated, bulls get excited. 😁

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News In Three Sentences – February 28, 2024

Great Zeus’s Beard That’s A Lot: BTC ETF trading volume spiked over $7.5 billion, more than double its previous record. 😱 WatcherGuru has more

BlackRock Turns Bitcoin ETFs into Its Own Personal Money Printer: BlackRock’s ($BLK) massive $520 million infusion into $BTC ETFs, combined with Europe’s unrelenting buying spree and a nifty GBP arbitrage opportunity on $COIN, propelled Bitcoin past the $60,000 mark despite expectations of a pause. Short-sellers everywhere are now questioning their life decisions. 🚀    Read more from TrustNodes

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