Bitcoin Surpasses Silver as Second-Largest ETF Commodity After Gold
Bitcoin exchange-traded funds (ETFs) have surpassed silver ETFs in terms of assets under management (AUM) within just one week of trading, making Bitcoin the second-largest commodity ETF after gold. The Grayscale Bitcoin Trust ETF (GBTC) alone possesses around 619,000 bitcoins, contributing significantly to the overall AUM of Bitcoin ETFs. Silver has now been relegated to the third position in terms of AUM within the single commodity ETF asset class, with approximately $11.5 billion distributed across five ETFs. BlackRock Inc’s Bitcoin ETF has attracted over $1 billion in investor inflows, making it the first among the recently launched group of nine ETFs directly holding the cryptocurrency to surpass this milestone since their debut last week.
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