pot Bitcoin ETFs in the US have expanded significantly to have $84 billion AUMs, outcompeting 66% of gold ETFs. This rapid advancement has taken many by surprise, and even Bloomberg’s Eric Balchunas said it would take four to five years for the index to reach this targets.
BlackRock’s Record Achievement
Furthermore, The decision to go live with the bitcoin fund was well-timed and the fund, BlackRock’s Bitcoin ETF has just overtaken the gold fund. This is such an accomplishment that it took gold ETF nearly two decades to reach this target, but the IBIT BTC ETF achieved this in less than a year.
Record-Breaking Performance
This week has been one of the biggest week for BTC with several records for spot Bitcoin ETFs. For example, IBIT itself recorded, more than $1 billion of single-day inflows and approximately $4 billion of trading volume. The two spot Bitcoin ETFs trading volumes hits $6 billion beating leading stocks such as Berkshire and Netflix.
Future Outlook
Moreoever, The market also looks to the future with possible new crypto ETFs such as XRP, Solana, and Cardano potentially being approved by the SEC in the near future. He further noted that several issuers remain willing and ready to release new products due to current market friendly environment.
Bitcoin ETFs Warn of Crypto’s Growth
The high rate of change in the demand for Bitcoin ETFs is one of the most critical shifts in institutional demand, where conventional financial instruments move towards embracing crypto assets. This has a tendency to show the public embracing for the digital assets as a form of investment.
