The Bitcoin ETFs offered by Fidelity and BlackRock in the ETF industry are currently ranked in the top 10 established over the past ten years according to statistics compiled by Eric Balchunas of Bloomberg.
The assets of Fidelity’s Wise Origin Bitcoin ETF (FBTC) are $11 billion, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) has amassed $23.2 billion. With their January 2024 launch, both funds have had considerable growth, indicating the high demand for Bitcoin exchange-traded funds.
The rapid growth of these funds has surprised the financial sector. Besides traditional equity ETFs, Bitcoin-focused funds are now competing in the broader market. BlackRock’s IBIT is the fourth-largest ETF launched in this decade, while Fidelity’s FBTC holds ninth place. This achievement is important, considering that these funds launched just ten months ago. Over 2,000 ETFs have been introduced since 2020, but few have seen such fast growth.
Furthermore, the rising demand for digital assets is demonstrated by the inclusion of ETFs with a cryptocurrency focus in the top rankings. Institutions and people who want exposure to Bitcoin without actually possessing any of it can do so with the help of Bitcoin ETFs. As such, they serve as a conduit for traditional money into digital assets.
Furthermore, the increasing popularity of Bitcoin ETFs emphasizes how finance is always changing. The product’s appeal keeps rising in spite of doubts expressed by individuals like SEC Chairman Gary Gensler, who chastised the concentration of Bitcoin ETFs.
Read CRYPTONEWSLAND onThis isn’t a trend exclusive to Bitcoin. popular financial companies like Mastercard and PayPal are starting to use blockchain technology. The industry’s commitment to decentralized finance is demonstrated, for instance, by Franklin Templeton’s expansion of blockchain-based solutions and BlackRock’s recent launch of a tokenized fund.
#Metaplanet boosts #Bitcoin holdings to 530 BTC after profitable options trade, showcasing #innovative crypto asset…
Right now, the buzz is on #Rollblock, a notable #ICOtoken in its new #cryptopresale, attracting…
Ethereum whale sells 19,000 ETH, triggering a 3.5% drop in price. Dormant whales & ETF…
Ro Khanna calls for the U.S. to keep seized Bitcoin as a strategic reserve asset…
The #cryptomarket is holding its breath with the latest SEC/XRP news. After a landmark ruling…
The $XRP price chart indicates a major #bullish pump possibility that could take the price…