Key Points:
- Spot Bitcoin ETF AUM outpaced silver ETFs in the U.S. within a week, driven by strong market interest and demand for the digital asset.
- Spot Bitcoin ETFs, including Grayscale’s GBTC, now hold $27.5 billion in assets, surpassing silver in the single commodity ETF category.
In just one week of trading, Bitcoin exchange-traded funds (ETFs) have surpassed silver ETFs in the United States in terms of assets under management (AUM), according to The Block report.
Read more: Bitcoin Spot ETF Applications: A Comprehensive List of All Companies, Including Wall Street
Spot Bitcoin ETF AUM Surpassed Silver Within One Week
The surge in popularity of spot Bitcoin ETF AUM is attributed to significant market interest and pent-up demand for the digital asset, as stated by Jag Kooner, Bitfinex Head of Derivatives.
Previously holding the second position in single commodity ETF AUM in the U.S., silver now falls to third place with approximately $11.5 billion spread across five ETFs, according to the ETF Database.
The newfound dominance of spot Bitcoin ETF AUM is highlighted by spot funds, including the conversion of Grayscale Bitcoin Trust ETF (GBTC), currently holding around 647,651 BTC, equivalent to $27.5 billion in AUM, based on CC15Capital data.
Coinglass reports that the GBTC alone holds approximately 619,000 BTC. This development places Bitcoin ahead of Silver in AUM within the single commodity ETF asset class.
Despite the controversy surrounding Bitcoin’s latest ETFs since their January 11 debut, with frenetic trading activity showing limited impact on Bitcoin’s price growth, BlackRock‘s iShares Bitcoin Trust (IBIT) has recorded significant net gains, increasing by $1 billion over four days, according to BitMEX research.
Meanwhile, GBTC experienced a net outflow of $458 million on the fourth day, with a cumulative net outflow of $1.62 billion. In contrast, the spot Bitcoin ETF group saw net inflows of $474 million on the fourth day and net inflows of $1.29 billion over the four days, indicating a dynamic and evolving landscape for cryptocurrency investments in the U.S. market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
Bitcoin
Spot Bitcoin ETF AUM Now Surpass Silver ETFs
Key Points:
- Spot Bitcoin ETF AUM outpaced silver ETFs in the U.S. within a week, driven by strong market interest and demand for the digital asset.
- Spot Bitcoin ETFs, including Grayscale’s GBTC, now hold $27.5 billion in assets, surpassing silver in the single commodity ETF category.
In just one week of trading, Bitcoin exchange-traded funds (ETFs) have surpassed silver ETFs in the United States in terms of assets under management (AUM), according to The Block report.
Read more: Bitcoin Spot ETF Applications: A Comprehensive List of All Companies, Including Wall Street
Spot Bitcoin ETF AUM Surpassed Silver Within One Week
The surge in popularity of spot Bitcoin ETF AUM is attributed to significant market interest and pent-up demand for the digital asset, as stated by Jag Kooner, Bitfinex Head of Derivatives.
Previously holding the second position in single commodity ETF AUM in the U.S., silver now falls to third place with approximately $11.5 billion spread across five ETFs, according to the ETF Database.
The newfound dominance of spot Bitcoin ETF AUM is highlighted by spot funds, including the conversion of Grayscale Bitcoin Trust ETF (GBTC), currently holding around 647,651 BTC, equivalent to $27.5 billion in AUM, based on CC15Capital data.
Coinglass reports that the GBTC alone holds approximately 619,000 BTC. This development places Bitcoin ahead of Silver in AUM within the single commodity ETF asset class.
Despite the controversy surrounding Bitcoin’s latest ETFs since their January 11 debut, with frenetic trading activity showing limited impact on Bitcoin’s price growth, BlackRock‘s iShares Bitcoin Trust (IBIT) has recorded significant net gains, increasing by $1 billion over four days, according to BitMEX research.
Meanwhile, GBTC experienced a net outflow of $458 million on the fourth day, with a cumulative net outflow of $1.62 billion. In contrast, the spot Bitcoin ETF group saw net inflows of $474 million on the fourth day and net inflows of $1.29 billion over the four days, indicating a dynamic and evolving landscape for cryptocurrency investments in the U.S. market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
News
US Senator Cynthia Lummis Speaks Out To Protect Bitcoin Against Biden’s Dictatorship
News
Binance Founder Changpeng Zhao Thanks Everyone for Their Support Before Going to Jail
News
Hong Kong Crypto ETFs Of HashKey And Bosera Completed Subscription To Launch On April 30
News
iOS Zero-day Exploit Discovered by Trust Wallet Is Causing Confusion Among iPhone Users
Knowledge
