Six out of top 10 traditional ETF issuers remain cautious of entering Bitcoin market
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Quick Take The highly anticipated launch of the Bitcoin ETFs on Jan. 11, 2024, marked a significant milestone in the digital asset industry. Major players such as BlackRock, Fidelity, Bitwise, Ark, Invesco, Franklin Templeton, VanEck, WisdomTree, and Grayscale were among the issuers of these ETFs. According to Stock Analysis’s ETF issuer asset league table, these issuers are ranked based on their estimated assets from their ETF business. Bitcoin ETFs have achieved unprecedented success, becoming the most successful ETF launch of all time. Notably, major players have opted out of issuing Bitcoin ETFs, with six out of the top 10, Vanguard, State Street, Charles Schwab, First Trust, JP Morgan Chase, and Dimensional, yet to enter the Bitcoin ETF space. Nate Geraci, President of the ETF Store, highlighted the remarkable performance of the iShares Bitcoin ETF, which has attracted approximately $20.5 billion this year alone. In comparison, the next closest non-spot Bitcoin ETF among 375 new ETF launches in 2024 garnered only $1.3 billion, underscoring the dominance and success of Bitcoin ETFs even as many traditional asset managers remain on the sidelines. “iShares Bitcoin ETF has taken in approx $20.5bil this yr… Out of *all* 375 new ETF launches in 2024, next closest non-spot btc ETF = $1.3bil. Numbers are comical at this point”. No. Provider Name Total Assets Funds Av. Cost 1 BlackRock 2,894.77B 443 0.30% 2 Vanguard 2,684.34B 86 0.09% 3 State Street 1,339.01B 138 0.27% 4 Invesco 541.16B 228 0.41% 5 Charles Schwab 355.50B 30 0.13% 6 First Trust 171.37B 250 0.78% 7 JPMorgan Chase 157.88B 61 0.30% 8 Dimensional 146.56B 38 0.24% 9 VanEck 80.10B 69 0.65% 10 Fidelity 78.72B 71 0.30% 11 WisdomTree 78.45B 79 0.46% 12 ProShares 67.37B 146 0.85% Source: stockanalysis The post Six out of top 10 traditional ETF issuers remain cautious of entering…
Filed under: News - @ August 14, 2024 6:18 pm