Quick Take
Bitcoin ETFs, with just five days of trading under their belts, have already made significant strides in the financial arena. Notably, Fidelity’s FBTC and BlackRock’s IBIT ETFs have swiftly crossed the billion-dollar threshold, managing $1 billion and $1.2 billion in assets, respectively.
Bloomberg’s Senior ETF Analyst, Eric Balchunas, provides a comparative perspective by highlighting that the nine spot Bitcoin ETFs collectively hold about 40% of the Bitcoin assets managed by MicroStrategy, a prominent player in the digital asset investment space, which holds 189,150 Bitcoin.
Balchunas goes on further to say that within a pool of approximately 5,000 ETFs, FBTC and IBIT rank among the top 5 in terms of speed to reach the billion-dollar mark, trailing only BITO and GLD. BITO took a record two days to amass $1 billion in assets, followed by GLD in three days, IBIT in four, and FBTC in five, according to Balchunas.
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