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Spot Bitcoin ETFs Reach $10B in AUM One Month After Approval

19d ago
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Spot Bitcoin ETFs Reach $10B in AUM One Month After Approval

Spot Bitcoin exchange-traded funds (ETFs) have already amassed a staggering $10 billion in assets under management (AUM) within their first 20 days of trading, showcasing the fervent investor interest in this novel investment vehicle.

Leading the charge are BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, boasting holdings of $4 billion and $3.4 billion respectively. 

ARK 21Shares Bitcoin ETF also recently surpassed the $1 billion mark on February 10. 

While Grayscale Bitcoin Trust (GBTC) continues to experience outflows, the pace has slowed, with its smallest daily withdrawal on February 9. 

Analysts anticipate further growth as trading firms complete their evaluations of these investment vehicles.

See Also: Spot Bitcoin ETFs Hit $10B Milestone Just One Month After Approval

ARK Invest, known for its bullish stance, sees Bitcoin replacing gold as a safe haven asset, predicting continued price appreciation due to its growing role in financial markets. 

They believe Bitcoin’s antifragile nature will allow it to weather rising interest rates and inflation, offering a unique advantage in the current macroeconomic climate.

The recent approval of Bitcoin ETF applications by the SEC, after over a decade since the first proposal, marks a significant milestone. 

This development signifies not only the growing institutional embrace of Bitcoin but also a potential shift in how investors perceive it as a store of value.

Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.

 

#Binance #WRITE2EARN

The post Spot Bitcoin ETFs Reach $10B in AUM One Month After Approval appeared first on BitcoinWorld.

19d ago
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