Hold onto your hats, folks! US Spot Bitcoin Exchange-Traded Funds (ETFs) have reached a whopping $750 billion in trading volume – just one year after their grand entrance! It’s raining Bitcoins, and these ETFs are making it rain! ☔💸
US Spot Bitcoin ETFs: The Unstoppable Volume Surge 📈
In March 2024, these Bitcoin ETFs hit a modest $100 billion in trading volume. Fast forward to the next month, during the Bitcoin halving event, and the volume doubled like a certain cryptocurrency’s price! 🎢
But then, the crypto market took a breather, and Bitcoin prices chilled between $50,000 and $70,000. No worries, though – Bitcoin bounced back, fueled by none other than Donald Trump’s victory in the US presidential election. 🇺🇸💰
As a result, US spot Bitcoin ETFs’ trading volume skyrocketed to $500 billion. And now, it’s reached an astounding $753.2 billion! Take a moment to let that sink in. We’ll wait. 😲
BlackRock’s iShares Bitcoin Trust: The King of Bitcoin ETFs 🏆
Out of the eleven spot Bitcoin ETFs approved by the SEC, BlackRock’s iShares Bitcoin Trust (IBIT) reigns supreme. IBIT has grown from a 25% market share at launch to a whopping 75%! Grayscale, who used to wear the crown, has seen its GBTC product decline due to high management fees and other factors. 📉
IBIT now boasts $56 billion in Assets Under Management, out of the total $112 billion in the general spot Bitcoin ETF market. Will this unstoppable trend continue? Stay tuned! 🚀
BlackRock’s Ethereum ETF: The New Kid on the Block 💼
BlackRock’s Ethereum ETF (ETHA) is making waves in the Ethereum world, too. With a surge of inflows, ETHA has become the go-to choice for investors. As of mid-December, ETHA raked in $1.3 billion in inflows over ten trading days, bringing cumulative inflows to $3.19 billion. 💥
Ethereum ETF issuers are working on getting staking approval, and ConsenSys founder Joe Lubin predicts they’ll soon get the green light. Will Ethereum ETFs follow in Bitcoin ETFs’ footsteps? Only time will tell! 🕰️
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2025-02-21 18:14