BTC - Investors Are Pouring Billions Into These 2 Bitcoin ETFs and Leaving the Rest Behind
2024-01-30 06:08:00 ET
The Securities and Exchange Commission (SEC) approved 11 new spot Bitcoin (CRYPTO: BTC) ETFs earlier this month; two stand out as clear winners among the group.
The iShares Bitcoin Trust (NASDAQ: IBIT) from Blackrock (NYSE: BLK) was the first to reach $1 billion in assets under management less than one week after its launch. The Fidelity Wise Origin Bitcoin Fund (NYSEMKT: FBTC) followed close behind, reaching the milestone the next day. Two weeks into the start of trading of this new breed of Bitcoin ETFs, the two leaders account for about 70% of all inflows.
In other words, the market is showing a clear preference for the Bitcoin ETFs from Blackrock and Fidelity over the competition. Should you follow the wisdom of the crowd, or are there better options?
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Investors Are Pouring Billions Into These 2 Bitcoin ETFs and Leaving the Rest Behind