By comparison, it took gold ETFs around five years to reach the same milestone. Total assets in Bitcoin ETFs now stand at $65 billion, marking a new high, according to data from Bloomberg’s Eric Balchunas.
A visual from the Bloomberg terminal shared by Balchunas highlights the impressive figures, with BlackRock (NYSE:BLK)’s IBIT ETF contributing a notable $22.46 billion in inflows.
However, significant outflows from Grayscale’s GBTC trust of $20.14 billion wiped out almost half of the gains. Despite this, net inflows remained strong, and Bitcoin ETFs as a whole still surpassed the $20 billion mark.
While this achievement is undoubtedly big, we will have to wait and see if it is the start of a new phase for Bitcoin ETFs. The future trajectory will depend on market conditions and broader trends like politics, despite the recent influx of capital suggesting that investor sentiment may be turning positive.
Either way, the $20 billion milestone is a new benchmark for Bitcoin ETFs and shows that more and more people are interested in investing in cryptocurrencies.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
