A Year Later, 3 Bitcoin ETFs Rank in the Top 100 by AUM: “Not a Fringe Asset Anymore”
Ecoinometrics has highlighted another notable achievement for Bitcoin ETFs. In the year since the launch of spot Bitcoin ETFs, it has been difficult to keep track of the milestones, and they show no signs of slowing. In the latest development, a leading crypto research firm has pointed out that these products are now featured in another important list that demonstrates the growth of the leading cryptocurrency.
Bitcoin in the Top 100
Ecoinometrics has highlighted another significant achievement for Bitcoin ETFs. In a recent post on Thursday, February 6, the platform revealed that three Bitcoin ETFs now rank among the top 100 ETFs by assets under management. The three ETFs are BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC. According to the data, IBIT ranks 31st with approximately $56.5 billion, FBTC ranks 89th with $20.4 billion, and GBTC ranks 94th with $19.5 billion.
In response to this milestone, the research firm stated, “Bitcoin is not a fringe asset anymore.”
Indeed, Bitcoin has come a long way from its niche libertarian origins to become a $2 trillion asset that is in high demand on Wall Street, even as the U.S. government considers holding a strategic reserve of it at various levels.
Further highlighting Bitcoin’s growth, Ecoinometrics noted that BlackRock’s IBIT is not far behind SPDR Gold Shares (GLD), the largest gold ETF. GLD ranks 18th with approximately $73 billion in AUM.
Interestingly, in mid-December, the total assets under management of all U.S. Bitcoin ETFs, including derivatives and leveraged products, surpassed the total assets under management of U.S. gold ETFs.
This achievement is significant as strong proponents of Bitcoin argue that it will one day surpass gold as a store of value.
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