Bitcoin ETFs Reach $10 Billion in Assets Under Management (AUM)
Bitcoin ETFs have achieved a significant milestone, surpassing $10 billion in assets under management (AUM) within the first month of their approval. This article provides an overview of the current state of Bitcoin ETFs.
Bitcoin ETFs: Crossing the $10 Billion Threshold
The leading Bitcoin ETF is BlackRock’s iShares Bitcoin Trust with $4 billion AUM, closely followed by Fidelity’s Wise Origin Bitcoin Fund at $3.4 billion. ARK 21Shares Bitcoin ETF has also surpassed $1 billion AUM.
Bitcoin ETF Flow – 9th Feb
All data out. Strong day at $541.5m of net inflow
Invesco had an outflow, the first non-GBTC product to have an outflow day pic.twitter.com/UCFDVAaKD3
— BitMEX Research (@BitMEXResearch) February 10, 2024
Grayscale Bitcoin Trust (GBTC) has experienced outflows at a reduced pace, while other Bitcoin ETFs continue to attract investor interest. The competition in this space is expected to drive further growth.
The approval of BTC ETF applications by the US SEC has contributed to the popularity of these investment vehicles. Some experts even suggest that BTC could surpass the value of gold.
Whilst #VentureCapital pours into solid new projects, the #BitcoinETFs continue to make new records with $1.44 BILLION of new funds taken in just the last 3 days.
If you cannot help feel bullish, then go bury you head back in the sand! pic.twitter.com/PinGRX7Gmy
— RR2Capital (@RR2Capital) February 13, 2024
According to ARK Invest, Bitcoin may replace gold as a risk-off asset, considering its significant price increase relative to gold over the past seven years. Additionally, as inflation cools and real rates rise, Bitcoin is expected to remain resilient while traditional banks lose deposits.
BTC Enters $50K for the First Time in Two Years
On Monday, BTC broke above the $50,000 mark for the first time in nearly two years. This price movement has generated increased interest among investors, and many anticipate further upward momentum as the halving approaches.
Disclaimer
This information is not financial advice and is intended for educational and informational purposes only. Any investment decisions should be based on your own risk tolerance and due diligence. Bitcoin and other cryptocurrencies are high-risk investments. We are not responsible for any losses you may incur.
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