Bitcoin ETF 1 Year, Surpasses Gold

'Digital Gold' Grows Larger than Gold Total Net Assets Reach $129 Billion Impact of Soaring Bitcoin Prices Concerns Over Korea's 'Crypto Galapagos'

After being listed on the US stock market one year ago, Bitcoin Exchange Traded Funds (ETFs) have surpassed the asset management scale of gold ETFs. While Bitcoin has rapidly expanded its presence to the point of threatening traditional assets like gold in the world's largest financial market, Korea, which has blocked everything from listing to trading, is being criticized for creating a 'Crypto Galapagos.'

According to the financial investment industry on the 9th, the net asset value (AUM) of Bitcoin ETFs once recorded $129 billion (about 189 trillion won). This surpasses the AUM of gold ETFs ($124 billion). As Bitcoin prices have adjusted below $100,000 recently, the net assets of Bitcoin ETFs and gold ETFs have been fluctuating.

Bitcoin spot ETFs are absorbing funds in the US, which accounts for 70% of the global ETF market. According to an analysis by Korea Economic Daily through Bloomberg, the ETF with the highest net inflow over the past year was BlackRock's 'iShares Bitcoin Trust ETF (IBIT).' This ETF attracted $37.4 billion (about 55 trillion won) over the past year. Bitcoin and Ethereum-related spot ETFs occupied all of the top five positions in terms of net inflow.

Institutional investments, including pension funds, followed. The Wisconsin Investment Board, a US pension fund with an operating scale of $156 billion (about 230 trillion won), purchased $250 million worth of IBIT. While the global financial market is rapidly changing around Bitcoin, it is pointed out that related discussions in Korea have not progressed at all over the past year.

The Financial Services Commission has established a Virtual Asset Committee to advance the virtual asset market, but it is reported that allowing Bitcoin spot ETFs is a lower priority.