Spot Bitcoin ETF Fever Heats Up
Today is the deadline for filing amendments to spot Bitcoin ETFs as set by the SEC. This has sparked a wave of interest from various individuals and companies looking to enter the digital asset market. But who are the major players vying for a piece of the action?
One investor, “Fred Krueger,” took to Twitter to share insights into some of the big buyers of Bitcoin. BlackRock, with $10 trillion in assets under management (AUM), leads the pack as the largest asset manager globally. Fidelity, with $4 trillion in AUM, also intends to offer its own BTC custody services. Franklin Templeton, with over $1.5 trillion in AUM, is another significant player.
Other notable players include Van Eck and Wisdom Tree, both considered middle-tier with $80 billion and $72 billion in AUM respectively. Crypto native ETF applicants such as NYDIG, Galaxy, ARK, Bitwise, and Valkyrie have lower AUM but are well-versed in the crypto industry.
Smaller players like Hashdex and Pando are making waves in South America and Switzerland respectively.
The First Wave of Bitcoin ETFs
This is potentially just the beginning. Vanguard, Charles Schwab, and Proshares may also enter the mix. According to the investor, traditional investors will soon get a taste of what it’s like to own a true Bitcoin proxy.
GrayScale, an established Bitcoin fund provider, is not mentioned as it is attempting to convert its GBTC product into a spot ETF at the same time as its competitors.
Latest ETF News
Ark Invest was one of the first companies to file an amendment on deadline day. The details of the amendment were not disclosed, but more filings are expected as final preparations are made.
MV Capital partner Tom Dunleavy believes that the Bitcoin ETF is not a sell-the-news event. He predicts significant inflows due to marketing campaigns, the inclusion of crypto in pension funds, and regulatory de-risking making the asset class more accessible to institutions.
Hot Take: The Race for Bitcoin ETFs Intensifies
The deadline for amendments to spot Bitcoin ETFs has sparked a frenzy among investors and companies vying for a position in the digital asset market. With major players like BlackRock, Fidelity, and Franklin Templeton leading the charge, traditional investors will soon have exposure to Bitcoin. This is just the first wave, with more companies expected to enter the mix. The race for Bitcoin ETFs is heating up, and it remains to be seen who will come out on top. Stay tuned for further developments in this rapidly evolving space.
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