Here Are Multiple Milestones Recorded
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Spot Bitcoin ETF products got the green light to trade precisely a year ago after about a decade of waiting on the United States Securities and Exchange Commission (SEC). At the time, 11 different asset managers received approval to launch the product. These BTC ETF products have stunned the financial world with record milestones. Standout Spot Bitcoin ETF Products Bloomberg Senior ETF Analyst James Seyffart shared a chart comparing Bitcoin ETFs with their counterparts in the broader market. Per the chart, the BlackRock iShares Bitcoin Trust (IBIT) has the largest asset valuation after 1 year. The BlackRock IBIT crossed $50 billion AUM in December 2024. IBIT is now worth $52.33 billion, beating its closest rival, the Invesco QQQ Trust Series, with $18.3 billion. Notable, Invesco QQQ Trust Series is one of the world’s largest in the broader financial world. The Fidelity Wise Origin Bitcoin Fund (FBTC) secured third place among the best ETF launches ever. After a year, its assets under management were worth $19.681 billion. Other ETF products from ARK 21Shares and Bitwise earned $4.391 billion and $3.3829 billion, respectively. According to Seyffart, adjusting this Bitcoin ETF’s accrued assets for inflation will still place them among the top 20. The performance aligns with earlier records that show BTC and Ethereum funds dominated across 740 ETF launches in 2024. Tough Competitor To Gold ETFs Acknowledging the strides of the BTC ETF products, Fox Business Journalist Eleanor Terrett also shared interesting numbers. Per her update, these ETF products have accumulated 1 million BTC units worth over $95 billion in today’s prices. Considered the biggest asset in the world, these new ETF players also dusted Gold’s earlier milestones. The Bitcoin Exchange Traded Fund products have surpassed Gold’s AUM of $128 billion. A little more on just how significant the $BTC ETFs have…
Filed under: News - @ January 11, 2025 5:12 am