Bitcoin spot ETF trading has become extremely active. According to statistics, the assets under management (AUM) of Bitcoin ETF products in the United States have surpassed $27 billion, making it the second-largest ETF asset category in the country, surpassing silver.
After the approval of the Bitcoin (BTC) spot ETF, it has opened the door for traditional finance to invest in BTC. Eric Balchunas, an ETF analyst at Bloomberg, previously speculated that these ETFs could raise $50 billion in funds within two years.
It is worth noting that, according to statistics from VettaFi, the current AUM ranking of ETF products in the United States is as follows:
– The first place is gold (over $94.8 billion)
– The second place is the “Broad Diversified” asset category, which includes 22 ETFs with an AUM of $12.826 billion
– The third place is silver, which includes 5 ETFs with an AUM of $11.546 billion.
Although Bitcoin has not yet appeared in the AUM ranking of ETFs, the website has already included a section for blockchain ETFs. According to the statistics, the total AUM of the current 11 Bitcoin spot ETFs has exceeded $27 billion, surpassing silver to become the second-largest ETF commodity asset category in the United States.
Cathie Wood, founder and CEO of ARK Investment, recently stated in an interview that she believes Bitcoin’s development is grabbing market share from gold globally. She cited the important role Bitcoin plays in emerging markets, as it can hedge against unstable currencies and fiscal policies for individuals and institutions.
Based on Bitcoin’s scarcity, security, and the growing acceptance in the investment community, Cathie Wood believes that Bitcoin represents a new era in finance.
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