Bitcoin is marching toward $100,000 and its wild jump has attracted some serious money into the exchange-traded funds that track the OG crypto, beating even runaway hits like tech stocks.
Not bad for an ETF that was only launched this year.
Donald Trump’s election win has driven all kinds of assets, from stocks to crypto, into a frenzy. But bitcoin is riding Trump’s crypto-friendly vibes to new highs day after day. It just broke $89K this week – another record.
BlackRock’s US-listed iShares Bitcoin Trust ETF (IBIT) is going just as crazy, outpacing most of the TradFi ETFs so beloved by armchair investors. Only flows into that portfolio staple, the Vanguard S&P 500 ETF (VOO), still trump (pun intended) IBIT.
