Mentioned:
No items found.
No items found.
No items found.
Bitcoin ETFs have just recently launched in the United States. But that hasn’t stopped them from surpassing the size of one of the world’s oldest precious metals.
What’s happening:
- Bitcoin has surpassed silver to become the second largest ETF commodity in the entire United States, just a mere week after being approved to list on major US stock exchanges
Why it matters:
- Many critics of Bitcoin and crypto were skeptical that Bitcoin ETFs would be embraced by the public markets or significantly allocated to
- The rapid rise of inflows to Bitcoin ETFs is happening in parallel with many publicly listed Bitcoin mining companies hitting all time highs in revenues
Going deeper:
- In just one week since being officially approved by the SEC Bitcoin ETFs are already the second largest commodity for assets under management and continuing to grow rapidly
- Gold still remains as the largest asset for ETFs in the United States
- BlackRock has been on a Bitcoin buying spree, seeing record breaking inflows into their iShares Bitcoin ETF (NASDAQ: IBIT)
By the numbers:
- Gold ETFs have a combined assets under management in the United States of $96.3B USD
- Since spot Bitcoin ETFs were officially approved, they already have $27.5B USD in assets under management across all 11 different spot Bitcoin ETFs
- Spot Bitcoin ETFs have traded approximately $12B USD in total volume since launching
- BlackRock became the first ETF to reach $1B in assets under management for a spot Bitcoin ETF
