Total Asset Size of Bitcoin ETFs Surpasses Silver ETFs
The total asset size of spot Bitcoin exchange-traded funds (ETFs) has reached $30 billion, surpassing the combined assets under management (AUM) of Silver ETFs, which stands at approximately $11 billion. Among commodity-focused ETFs in the US, Bitcoin ETFs are only second to Gold.
Donald Trump Vows to Ban CBDCs if Elected
US presidential candidate Donald Trump has stated that he would “never allow” the creation of a central bank digital currency (CBDC). During a campaign stop in New Hampshire, Trump expressed his belief that CBDCs would grant the government complete control over public finances.
Crypto Market Crashes as Bitcoin Sinks
In early morning trade on Friday, major cryptocurrencies experienced a significant decline, with Bitcoin falling by nearly 4%. This downward movement was mirrored by a 3.5% drop in the global crypto market cap, which now stands at $1.62 trillion.
Hot Take: The Growing Dominance of Bitcoin and Concerns about CBDCs
The increasing asset size of Bitcoin ETFs compared to Silver ETFs highlights the growing popularity and dominance of Bitcoin in the cryptocurrency market. However, concerns over central bank digital currencies (CBDCs) continue to persist, as some believe they could enable governments to exercise excessive control over individuals’ finances. As the crypto market remains volatile, investors should closely monitor these developments and consider the potential risks and rewards associated with high-risk investments.
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