The iShares Bitcoin ETF has surpassed its gold equivalent after a surge in interest in cryptocurrency following the Trump election.

• Since its launch in January, FactSet reports that IBIT has received approximately $27 billion in inflows, with $1 billion coming in just the past week.
• The milestone arrives with the triumph of President-elect Donald Trump and the subsequent rise of bitcoin and other cryptocurrencies.
• The recent crypto rally over the weekend, which saw bitcoin reach above $80,000, is not yet reflected in the asset numbers.

IBIT, the rapidly expanding Bitcoin investment trust, has surpassed one of the largest funds in the traditional investing category of gold.

As of Friday, the bitcoin ETF had approximately $34.3 billion in assets under management (AUM), surpassing the S&P 500 ETF, which had just under $33 billion.

The recent crypto rally over the weekend, which saw bitcoin reach above $80,000, has not yet been reflected in the asset numbers. IBIT experienced a 6% increase in morning trading on Monday.

The milestone comes after President-elect Donald Trump's victory, with the Republican Party embracing cryptocurrencies as part of their campaign, including speaking at the Bitcoin Conference in July.

Over the past week, IBIT has attracted approximately $1 billion in inflows, bringing its total assets to more than $30 billion due to the increasing value of bitcoin, according to FactSet.

Despite being $30 billion smaller than the largest gold ETF, SPDR Gold Shares (GLD), IBIT remains a significant player in the gold market.