Silver

Bitcoin ETF

Billion

<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2023/12/Bitcoin-ETF-2-scaled-1-e1702535490232.jpg" class="attachment-full size-full wp-post-image" alt="" decoding="async" style="float:right; margin:0 0 10px 10px;">
Bitcoin has just surpassed silver to become the world’s second-largest commodity ETF, indicating crypto’s rapid growth as an investment. Data&nbsp;<a rel="nofollow" class="editor-rtfLink" href="https://twitter.com/GoingParabolic/status/1748048438493630559" target="_blank">compiled</a>&nbsp;by investor Jason A. Williams shows that Bitcoin ETFs have amassed $27.5 billion, placing them behind gold’s $96 billion but ahead of silver’s $11.5 billion. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 BREAKING <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> NEWS : In WEEK 1 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&nbsp; overtakes silver to become the second biggest commodity ETF. 
 1. Gold – $96b 2. BITCOIN – $27.5b 3. Silver – $11.5b 
 — Jason A. Williams (@GoingParabolic) <a href="https://twitter.com/GoingParabolic/status/1748048438493630559?ref_src=twsrc%5Etfw">January 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This swift rise comes a week after the historic debut of the first spot&nbsp;<a class="editor-rtfLink" href="https://coingape.com/just-in-valkyrie-bitcoin-etf-brrr-soars-12-pre-market-as-rivals-extend-declines/" target="_blank" rel="noopener">Bitcoin ETFs</a>&nbsp;in the US. The founder of Bitinning, Kashif Raza, expressed astonishment at the speed of Bitcoin’s ascendance, highlighting the contrast between the long-standing silver ETF and the nascent Bitcoin ETF. 
He said in a post on X, “Silver ETF is in existence for 18 years now! Bitcoin overtakes silver to become the second biggest commodity ETF in just one week.” 
<h2 id="span-data-preserver-spaces-true-who-are-the-big-etf-players-span">Who are the big ETF players?</h2> 
Investment firms have also taken note of the shift in commodity ETFs. However, a lot of Bitcoin ETF issuers have an existing market in the ETF space. 
According to ETFDB,&nbsp;<a class="editor-rtfLink" href="https://coingape.com/blackrocks-strategy-poised-to-spike-bitcoin-prices-expert-says/" target="_blank" rel="noopener">BlackRock</a>, Inc. dominates as the top-ranked issuer, overseeing $2.58 trillion across 424 ETFs. Vanguard trails closely at second, with $2.35 trillion under management for 84 ETFs. Invesco stands at fourth with assets totaling approximately $459 billion from 220 ETFs. 
<figure id="attachment_175169" aria-describedby="caption-attachment-175169" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-175169 size-full" src="https://coingape.com/wp-content/uploads/2024/01/Screenshot-2024-01-18-224110.png" alt="" width="926" height="333" srcset="https://coingape.com/wp-content/uploads/2024/01/Screenshot-2024-01-18-224110.png 926w, https://coingape.com/wp-content/uploads/2024/01/Screenshot-2024-01-18-224110-300x108.png 300w, https://coingape.com/wp-content/uploads/2024/01/Screenshot-2024-01-18-224110-768x276.png 768w, https://coingape.com/wp-content/uploads/2024/01/Screenshot-2024-01-18-224110-150x54.png 150w" sizes="(max-width: 926px) 100vw, 926px">
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 Source:etfdb.com
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</figure> 
Meanwhile, reactions to Bitcoin’s price performance have been mixed. Crypto analyst Michaël van de Poppe offered a positive perspective, welcoming the market dip as an opportunity to buy. He suggests that falling below $41K signals a chance to invest in Bitcoin, and further drops would only increase that opportunity. 
Conversely, economist and BTC critic Peter Schiff provided a negative outlook. He pointed out that many of the newly traded Bitcoin ETFs have quickly entered bear market territory, defined by a 20% decline from peak prices. Schiff predicts that this is just the beginning of a downturn for Bitcoin. 
<h2 id="span-data-preserver-spaces-true-btc-price-holds-at-41k-span">BTC Price Holds at $41K</h2> 
Despite these differing opinions, the overarching sentiment remains on the long-term performance of the&nbsp;<a class="editor-rtfLink" href="https://coingape.com/bitcoin-btc-price-drop-risks-250-mln-long-liquidation/" target="_blank" rel="noopener">BTC price</a>. Especially when Bitcoin halving is just a couple of months down the line. 
At press time, Bitcoin is trading just above $41,000 after experiencing a 3.5% decrease over the last 24 hours. CoinGecko estimates the loss over the past week is more than 10%. Despite these dips, Bitcoin’s market cap remains above $806 billion. 
The post <a href="https://coingape.com/just-in-bitcoin-etf-vaults-the-token-past-silver-with-27-5-billion-in-assets/">Just In: Bitcoin ETF Vaults the Token Past Silver with $27.5 Billion in Assets</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Just In: Bitcoin ETF Vaults the Token Past Silver with $27.5 Billion in Assets

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