In less than a year, bitcoin ETFs are on the verge of overtaking gold exchange-traded funds in the market as investors have bet billions on bitcoin's rise.
36 sorting out bitcoins ETFs traced According to etf.com, it owns $120.5 billion gold ETF It holds $125.7 billion as of the market close on December 17.
Investors have poured $60 billion into bitcoin ETFs since their Nov. 11 debut, with massive inflows following the Nov. 5 election of crypto-friendly Donald Trump. Bitcoin itself has doubled this year, boosting the value of these funds.
Meanwhile, more than $1 billion has been withdrawn from gold ETFs this year, even as prices for these assets have risen. For example, SPDR Gold Trust (GLD) So far this year, the fund has withdrawn 824 million dollars, an increase of 28%. The fund, which started trading in 2004, is larger than the Bitcoin ETF.
However, the growth rate of the largest bitcoin ETFs is far outstripping gold. The iShares Bitcoin Trust (IBIT)With $54.8 billion in assets, $42.5 billion in revenue, the stock has more than doubled in value.
Bitcoin and other crypto ETFs are still in their infancy and as currencies are thousands of years younger than gold. Ethereum ETFs began trading in June after receiving approval from the Securities and Exchange Commission, and analysts expect more coins from Solana to XRP to be packaged into ETFs under the crypto-friendly Trump administration that takes office next month.
according to a to tweet ETF Store president Nate Gerasi told Bloomberg analysts Eric Balchunas and James Seiffart that crypto ETF assets could outperform precious metals next year, according to Bloomberg analysts Eric Balchunas and James Seiffart. Balchunas predicted earlier this year that spot bitcoin funds would surpass the assets under management of gold funds in the next two years.
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