Silver

Bitcoin

Grayscale Bitcoin Trust

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-surpass-silver-in-trading-volume-signaling-growing-investor-interest" rel="noopener noreferrer nofollow">Bitcoin ETFs Surpass Silver in Trading Volume, Signaling Growing Investor Interest</a> 
<a href="https://en.bitcoinhaber.net/us-senators-demand-answers-from-sec-chair-gensler-after-twitter-hack" rel="noopener noreferrer nofollow">Bitcoin</a> Exchange Traded Funds (ETFs) have surpassed silver-based ETFs in trading volume within just a week in the U.S. market. This development has caught the attention of prominent figures in the cryptocurrency markets, and speculation about how it will affect Bitcoin’s price continues.
Jag Kooner, the Head of Derivatives at Bitfinex, highlighted that the previously suppressed demand for Bitcoin is now becoming prominent, drawing significant interest from U.S. investors. Bitcoin ETFs have outgrown silver ETFs in size due to this surging market interest.
According to CC15Capital, silver was previously the second-leading commodity ETF in the U.S. by assets under management (AUM). Now, spot Bitcoin ETF funds, including the transformation of Grayscale’s GBTC service, hold approximately 647,651 Bitcoin, equivalent to $27.5 billion in AUM. Grayscale Bitcoin Trust ETF (GBTC) alone holds around 619,000 Bitcoin.
ETF Database reports that silver is dispersed across five ETF products with about $11.5 billion, ranking third in AUM within a single commodity ETF class. In contrast, U.S. funds holding gold span 19 ETF products with a total AUM of $96.3 billion. Kooner believes that the conversion of Grayscale’s GBTC into an ETF has created the world’s largest Bitcoin ETF overnight, reflecting the suppressed demand and is expected to increase market liquidity and stability.
On January 18th, the cumulative trading volume for 11 funds exceeded $12 billion on the fifth day of trading for new spot Bitcoin ETF products, as reported by Yahoo Finance. Kooner anticipates this strong interest will persist, with ETF issuers attracting more investors through competitive fee structures, including discounted fees and fee waivers, which could lead to more competitive pricing among ETF providers and pave the way for more innovative crypto ETFs and new assets like Ethereum.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-surpass-silver-in-trading-volume-signaling-growing-investor-interest" rel="noopener noreferrer nofollow">Bitcoin ETFs Surpass Silver in Trading Volume, Signaling Growing Investor Interest</a></h5>

Bitcoin ETFs Surpass Silver in Trading Volume, Signaling Growing Investor Interest

BH NEWS

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