One thing that stood out to me was what he said about the new iShares Bitcoin Trust ETF $IBIT.
Eric said that the success in the first year of IBIT is hard to find a sports analogy for. It’s even better than Michael Jordan's rookie season, Tiger Woods, and even Michael Phelps.
In just ten months, IBIT has smashed past $40 billion in assets.
This not only breaks all records, but positions IBIT among the top ETFs by asset size.
Eric thinks it's poised to triple over the next 3-4 years. That would put it in the top 10 in terms of ETF size.
Here’s a chart of IBIT, showing its performance since inception vs the largest ETFs:
IBIT significantly outperforms all other major ETFs listed, including SPY, GLD, QQQ, VEA, and BND, with a total gain of 91.6% since inception.
Not only is bitcoin a leader among the most risk-on assets but it is gaining popularity among traditional investors.
This ETF is arguably safer and more liquid than trading spot Bitcoin in exchanges.
For people who want to keep their money with traditional brokers, IBIT offers an excellent vehicle, managed by a top asset manager.
With BTC breaking out of a multi-year base and heading toward $100k, I think IBIT has a good shot at more outperformance in the future.
