According to CoinDesk, Bitcoin ETFs have surpassed silver ETFs in assets following the approval by the U.S. Securities and Exchange Commission (SEC) last week. The conversion of the existing Grayscale Bitcoin Trust into an ETF resulted in nearly $30 billion being held in Bitcoin ETFs, while silver ETFs have combined assets of about $11 billion, according to etfdb.com. Gold remains the most popular commodity, with approximately $95 billion in assets.
21Shares co-founder Ophelia Snyder, who launched one of the ETFs in partnership with Ark Invest, expressed her surprise at the rapid growth, calling it a 'fantastic validation of bitcoin’s role as a reserve product and of the demand for bitcoin exposure in financial markets.' The launch of Bitcoin ETFs earlier this month marked a historic event for both the cryptocurrency community and ETFs. The newly launched funds saw roughly $894 million in net inflows within the first three days of trading, significantly higher than most new ETFs.
