US Bitcoin ETFs Assets Surpass $100B Barrier
According to data from Bloomberg Intelligence, the United States saw its first-ever Bitcoin exchange-traded funds (ETFs) reach over $100 billion in net assets on November 21. This milestone was driven by the dominance of Bitcoin in the ETF market since the launch of spot BTC ETFs in January.
The recent US elections, which saw the victory of President-elect Donald Trump, also played a role in increasing investor interest in Bitcoin.
Morningstar’s director of passive strategies research, Bryan Armour, believes that the surge in BTC ETF net assets in November can be attributed to a more positive outlook for Bitcoin after Trump’s win, resulting in over $5 billion in inflows.
Currently, BTC ETFs collectively manage around $104 billion, which is getting close to surpassing the net assets of gold ETFs, which currently hold about $120 billion. In a post on the X platform, an ETF analyst for Bloomberg Intelligence, Eric Balchunas, noted that BTC ETFs are now on their way to surpassing Satoshi as the biggest holder and are already at 82% of the way to surpassing gold ETFs.
