For the first time in history, U.S. Bitcoin exchange-traded funds (ETF) products have recorded more assets under management (AUM) than gold ETFs. This feat signifies the groundbreaking potential of Bitcoin products compared to traditional assets like gold, which enjoyed a 20-year trading journey. On the other side, Bitcoin ETFs were introduced in the market around 11 months ago.
According to K33 Research, a digital assets research firm from Norway, who first detected this important milestone, revealed that the collective value of BTC ETF products flipped the gold ETFs in net assets on Dec.16. To be clear, BTC ETF products, including spot and derivative, recorded AUM at $129.25 billion whereas gold ETF hovers below at $128.88 billion.
While comparing gold ETFs with the BTC spot ETFs alone, gold ETFs have more value in AUM at $125 billion and $120 billion, respectively. Still, it represents the unreal difference between Bitcoin ETF, which just launched in January, and gold, which enjoys the advantage of being around for more than two decades.
Bitcoin ETFs in the U.S. make it the largest holder of BTC
Notably, spot Bitcoin ETFs noted a year-to-date flow of over 500,000 Bitcoin. This figure depicts a single BTC product to absorb 2.5% of the total circulating supply. Not only that, 12 spot BTC ETFs in the U.S. collectively hold the largest collection of flagship crypto. It is over 1.1 million BTC, equivalent to 5% of the total supply and more than the collection of BTC that Satoshi Nakamoto’s wallet holds.
Bitcoin ETFs with higher amounts of inflows have made it to represent 1% of all ETFs launched in the U.S. For example, the total U.S. ETFs have $10 trillion in AUM at the time. While the Bitcoin ETFs alone have around 120 billion in assets. Understandably, the BTC ETF accounts for 1% of that total ETF AUM.
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