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

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