According to data released by ETF observer portal VettaFi, as of January 19, Bitcoin ETFs have surpassed silver to claim the second spot in AUM within the ETF asset class, with approximately $13 billion. Silver now ranks third with around $11.5 billion. Gold funds in the United States still top the list, with a combined AUM of $96.3 billion.
In an interview with The Block, Jag Kooner attributed the rise of Bitcoin ETFs to the increasing interest in this new financial instrument. He highlighted the competitive fee structures implemented by ETF issuers, which are expected to attract more investors and foster price competitiveness among providers. Furthermore, Kooner suggested that the success of these ETFs could pave the way for more innovative crypto ETFs and new underlying assets such as ether.
“While some in the investment community still view cryptocurrencies as risky, the rise of these ETFs could pave the way for more innovative crypto ETFs and new underlying assets such as ether,” Kooner added.
Currently, all existing Bitcoin spot ETFs have accumulated a total of approximately 647,651 BTC, with a combined AUM of $27.5 billion.
The iShares Bitcoin Trust, managed by BlackRock, has also made significant strides and claims the top spot among existing Bitcoin ETFs in terms of funds raised, with $1 billion.