Bitcoin spot ETF trading has become very hot after its approval. According to statistics, the assets under management (AUM) of Bitcoin in US ETF products have exceeded $27 billion, surpassing silver to become the second-largest ETF asset category in the United States.
After the approval of the Bitcoin spot ETF, it opens the door for traditional finance to invest in BTC. Bloomberg ETF analyst Eric Balchunas previously speculated that these ETFs are expected to raise $50 billion in funds within two years.
It is worth noting that according to statistics from VettaFi, the ranking of AUM of ETF products in the United States is as follows: gold is in first place (over $94.8 billion), the second place “Broad Diversified” asset category includes 22 ETFs with an AUM of $12.826 billion, and in third place is silver, including 5 ETFs with an AUM of $11.546 billion.
Although Bitcoin has not yet appeared in the ranking of its ETF AUM, the website has already included a dedicated section for blockchain ETFs. According to statistics, the total AUM of the 11 Bitcoin spot ETFs has exceeded $27 billion, surpassing silver to become the second-largest ETF commodity asset category in the United States.
Cathie Wood, the founder and CEO of ARK Investment, recently stated in an interview that she believes Bitcoin’s development is seizing the global market share of gold. She gave the example that Bitcoin currently plays a crucial role in emerging markets, hedging against unstable currencies and fiscal policies for individuals and institutions.
Based on the scarcity, security, and growing acceptance in the investment community, Cathie Wood believes that Bitcoin represents a new era in finance.
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