IBIT has raked in about $1 billion of inflows over the past week, and $27 billion overall since its launch in January, according to FactSet. The rising price of bitcoin has pushed the total asset amount to more than $30 billion. IBIT is still about $30 billion smaller than the biggest gold ETF on the market, SPDR Gold Shares (GLD).

"Much like bitcoin, we've seen breakouts across the cryptocurrency markets." The digital asset boom appears to reflect investor enthusiasm about Trump, who has vowed to bolster the cryptocurrency sector and ease regulations enforced by the Biden administration,