Hold onto your hats, folks! US Spot Bitcoin Exchange-Traded Funds (ETFs) have reached a whopping $750 billion in trading volume โ just one year after their grand entrance! It’s raining Bitcoins, and these ETFs are making it rain! โ๐ธ
US Spot Bitcoin ETFs: The Unstoppable Volume Surge ๐
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! ๐ข
But then, the crypto market took a breather, and Bitcoin prices chilled between $50,000 and $70,000. No worries, though โ Bitcoin bounced back, fueled by none other than Donald Trump’s victory in the US presidential election. ๐บ๐ธ๐ฐ
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. ๐ฒ
BlackRock’s iShares Bitcoin Trust: The King of Bitcoin ETFs ๐
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. ๐
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! ๐
BlackRock’s Ethereum ETF: The New Kid on the Block ๐ผ
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. ๐ฅ
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! ๐ฐ๏ธ
Read More
- Ana build, powers, and items โ Overwatch 2 Stadium
- The Last of Us Season 2 Episode 2 Release Date, Time, Where to Watch
- Who Is Christy Carlson Romanoโs Husband? Brendan Rooneyโs Job & Kids
- Why Is Ellie Angry With Joel in The Last of Us Season 2?
- Beauty in Black Part 2 Trailer Previews Return of Tyler Perry Netflix Show
- Paradise Season 2 Already Has a Release Date Update
- Who Is Kid Omni-Man in Invincible Season 3? Oliver Graysonโs Powers Explained
- The Hunger Games: Sunrise on the Reaping Cast Finds Young Haymitch & More
- Arjun Sarjaโs younger daughter Anjana gets engaged to long-term boyfriend; drops dreamy PICS from ceremony at Lake Como
- Jr NTR and Prashanth Neelโs upcoming project tentatively titled NTRNEELโs shoot set to begin on Feb 20? REPORT
2025-02-21 18:14