Bitcoin has soared to become the second-largest class of ETF assets in the United States, surpassing silver! ๐
Just a week after SEC approval, BTC spot ETFs are flaunting impressive figures, outpacing silver ETFs in managed assets in the USA. ๐ This positions them as the second-largest category of ETFs tied to the commodities market.
The market's interest continues to fuel the momentum of these new ETFs. ๐
At present, the Bitcoin spot ETF class holds the second position, trailing only behind gold. Notably, a substantial chunk of these assets is held by Grayscale and its new "covert" ETF GBTC. Excitingly, the competitive landscape may evolve with the maturation of activities from rivals, especially BlackRock. ๐
The cumulative trading volume for all involved funds has surpassed an impressive $12 billion, as reported by Yahoo Finance. Industry analysts widely anticipate sustained growth in investor interest over the next few months. ๐
Additionally, the perception of cryptocurrencies as 'risky' assets by some could pave the way for new ETFs based on alternative tokens, particularly Ethereum. ๐๐น
