Bitcoin Instantly Topped Silver in ETF Market and Trails Only Gold Among Commodities.
Silver has existed since dying stars started spewing the metal out billions of years ago. Bitcoin is 15 – but it’s already a bigger deal in the U.S. ETF market.
Bitcoin ETFs had more assets than silver ETFs the instant the U.S. Securities and Exchange Commission approved them last week, and trailed only gold among commodity-focused U.S. ETFsThanks to the conversion of the existing Grayscale Bitcoin Trust into an ETF, there was immediately almost $30 billion stashed in bitcoin ETFs, according to data compiled by CoinDesk. Silver ETFs have combined assets of about $11 billion.
