Bitcoin ETFs Surpass Silver ETFs in Assets Under Management
Bitcoin ETFs have exceeded silver ETFs in terms of assets under management (AUM), according to industry experts. Driven by substantial market interest, Bitcoin ETFs have quickly grown to become the second largest single commodity ETF in the country by AUM.
Spot Bitcoin ETFs, including the conversion of Grayscale’s GBTC trust, now hold approximately 647,651 Bitcoin valued at $27.5 billion in AUM, based on estimates from digital asset manager CC15Capital. The Grayscale Bitcoin Trust ETF (GBTC) alone holds around 619,000 BTC, currently worth $25.8 billion.
Key Takeaways:
- Spot BTC ETFs hold an estimated $27.5 billion in AUM versus silver’s $11.5 billion.
- Pent-up investor demand for BTC is driving the rapid growth of these new ETFs.
- Bitcoin became the 2nd largest single commodity ETF by AUM, behind gold’s $96.3 billion.
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Silver ETFs hold a combined $11.5 billion in AUM
In comparison, silver ETFs hold a combined $11.5 billion in AUM distributed across five funds, according to the ETF Database. This places silver in third place among single-commodity ETFs, down from previously being second behind gold. Gold ETFs remain the leader, with $96.3 billion in AUM spread across 19 funds.
“After trading for just a week, bitcoin ETFs have exceeded silver ETFs in the U.S. in terms of assets under management,” said Bitfinex Head of Derivatives Jag Kooner in an interview with The Block.
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Kooner added that pent-up demand for Bitcoin exposure has been a crucial factor in propelling the digital asset past silver by AUM so quickly. The long wait for SEC approval of Bitcoin ETFs in the U.S. had left investors eager to gain regulated exposure.
According to the latest data, Bitcoin has dropped by 3.6% in the last 24 hours and is trading at $41,061 at press time. BTC has plunged to a low of $40,901 from a 24-hour high of $42,883.
