Low-performing Bitcoin ETFs have hope for the future
An analyst from Bloomberg believes that all Bitcoin ETFs have the potential to perform well in the future, despite some currently underperforming. This is a significant shift from the previous skepticism surrounding Bitcoin ETFs. The analyst predicts that these ETFs will survive the current market downturn and continue to gain assets.
Blackrock and Fidelity’s performance so far
Blackrock’s IBIT and Fidelity’s FBTC have emerged as the top-performing Bitcoin ETFs since their debut. Blackrock’s IBIT has attracted the most investments, with a net asset value of $3.12 billion, followed by Fidelity’s FBTC with $2.66 billion. Grayscale’s ETF holds the most BTC, with $20.39 billion worth. However, Grayscale’s Bitcoin Trust (GBTC) has seen outflows of around $6 billion.
Bitcoin ETFs ascend with billions of inflows since debut
The spot Bitcoin ETF has experienced significant growth since its launch in the US market, with a total inflow of $1.55 billion. In its debut week alone, it brought in a net inflow of $1.06 billion and accumulated over 100,000 BTC in assets under management (AUM), excluding GBTC.
Hot Take: Potential for all Bitcoin ETFs
The approval of Bitcoin ETFs has opened up new opportunities for investors in the cryptocurrency space. While some ETFs have already achieved great success, there is still hope for those that are currently underperforming. Analysts believe that these underperforming ETFs have the potential to bounce back and attract more assets in the future as market conditions improve.
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