One such milestone is the speed at which an ETF reaches the $10 billion mark in assets under management.
Historically, The first gold ETF reached $10 billion in two years, highlighting its appeal as a safe-haven asset. However, The BlackRock Spot Bitcoin ETF quickly hit $10 billion in two months, showcasing the surging interest in cryptocurrency.
Bitcoin ETF’s Rapid Rise: A New Investment Milestone
This milestone reflects Bitcoin’s wider acceptance and BlackRock’s key role in mainstreaming crypto investments.
⚡️️ JUST IN: Bloomberg analysts predict spot #Bitcoin ETFs could surpass gold ETFs in assets under management in less than 2 years 🐂
🔥 More details at @CMNisal#CryptoNews #ETFs #AssetManagement #Bitcoin #Gold #Investing #Finance #CeylonCash pic.twitter.com/wdAvTsXB0w
— CeylonCash (@CeylonCash) February 26, 2024
BlackRock’s entry into the Bitcoin ETF market was met with considerable anticipation, given its influential position in the investment world. The Spot Bitcoin ETF’s quick success shows strong investor demand and confidence in Bitcoin as an asset class.
The comparison between the first gold ETF and BlackRock’s Spot Bitcoin ETF is particularly illuminating. Gold ETFs have made investing in the precious metal easier, offering exposure without needing to own it physically. The initial success of gold ETFs reflected a significant shift in how investors could diversify their portfolios with commodities. Similarly, BlackRock’s launch of a Bitcoin ETF is a milestone for crypto, offering a secure, regulated way to invest without direct asset handling.
Asset growth since the beginning of the year. #Bitcoin #Gold
Bitcoin ETFs are growing.
Gold ETFs are losing funds. pic.twitter.com/fDdqOSXQtB— Crypto1st (@Crypto1s) March 3, 2024
More About Bitcoin ETFs
With the cryptocurrency market on the brink of a pivotal moment, a scant 5,000 BTC is remaining until the price hits $80,000 on major exchanges like Coinbase and Binance. This figure is notably less than the daily purchase volume of Bitcoin ETFs, underscoring the intense buying pressure in the market.
There's only about 5,000 BTC left until $80,000 on Coinbase and Binance.
That's less than what the Bitcoin ETFs buy in ONE day!
Once OTC liquidity is gone, price will skyrocket. 👀 pic.twitter.com/yP5pBaUy8y
— Duo Nine ⚡ YCC (@DU09BTC) March 4, 2024
The implication is clear: once the over-the-counter (OTC) liquidity dries up, we’re likely to witness a dramatic surge in Bitcoin’s price. This scenario indicates a shrinking supply amid rising demand, suggesting a potential price surge as Bitcoin becomes scarcer.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
