Bitcoin ETFs are going to surpass gold’s, says ETF expert — unless there’s a black swan event | Headlines | News | CoinMarketCap
03/14/2024 21:49
Bitcoin ETFs have seen far higher flows and assets than most predicted ahead of launch, and this unparalleled success has analysts speculating about …
The Block10 minutes ago
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Published on March 14, 2024 14:37 GMT+00:00edited on March 14, 2024 14:39 GMT+00:00
Bitcoin ETFs have seen far higher flows and assets than most predicted ahead of launch, and this unparalleled success has analysts speculating about how high they might go.
Having started with $28.9 billion of assets when they launched — as Grayscale’s flagship Bitcoin Trust was converted across along with its assets — the 11 spot bitcoin ETFs now have a combined AUM of $61 billion. On the back of heavy inflows and a rising bitcoin price, their size is heading toward that of gold ETFs, which have a combined AUM of around $97 billion.
“They're going to pass gold ETFs at some point. That'll be a big thing,” Bloomberg Senior ETF Analyst Eric Balchunas told The Block. “I think the only thing that could derail all this is some kind of black swan.”
Balchunas said the ETFs could be described …