One of the most anticipated business milestones was the introduction of Bitcoin ETFs in early January 2024. Is the creation of Bitcoin ETFs as a class considered successful? Eric Balchunas offers his perspective.
$55 billion in assets, $110 billion in volume: Here’s what BTC ETFs achieved in two months
Senior ETF Analyst at Bloomberg Eric Balchunas argues on X that the performance of the ten Bitcoin ETFs in the U.S. should be viewed as “simply absurd,” considering that they accumulated $55 billion in assets and had a 100% increase in trading activity.
The seasoned specialist acknowledged that he would still consider these achievements to be successes even if they were the statistics at the end of 2024.
He continued by saying that, in comparison to their rivals, he is personally astonished by the outstanding performance of BlackRock’s IBIT and Fidelity’s FBTC products.
A week ago, the total volume of liquidity in the Bitcoin Spot ETF category in the United States exceeded $50 billion, as previously reported by U.Today.
The items from BlockRock, Fidelity, and Grayscale account for the most of this enormous sum.
Ethereum ETFs: Will Hong Kong lead way?
Analysts are now debating whether or not the United States will approve Ethereum ETFs. Political unrest and Ethereum’s (ETH) murky security status might cause a delay in the release of spot ETH ETFs.
Hong Kong may be the first nation to approve spot Ether ETF trading as the ETH ETF controversy gains momentum. Chinese crypto writer Colin Wu has seen that these kinds of prospects are being discussed by local media.
The industry representative said, “If the rumours are accurate, Hong Kong will have the chance to move from being a follower to a leader.”
