Ecoinometrics highlights yet another significant Bitcoin ETF feat.
In the year since the launch of spot Bitcoin ETFs, it has been hard to keep track of the milestones, and they are showing no signs of slowing.
In the latest instance, a leading crypto research firm has highlighted that the products feature in yet another key list showcasing the growth of the premier crypto asset.
Bitcoin in the Top 100
Ecoinometrics has highlighted yet another significant Bitcoin ETF feat.
In an X post on Thursday, February 6, the platform disclosed that three Bitcoin ETFs now rank among the top 100 ETFs by assets under management. The three ETFs include BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC. Per the data, IBIT ranks 31st with about $56.5 billion, FBTC ranks 89th with $20.4 billion, and GBTC ranks 94th with $19.5 billion.
Commenting on the milestone, the firm asserted:
“Bitcoin is not a fringe asset anymore.”
Indeed, the asset has come a long way from its niche libertarian roots to becoming a $2 trillion asset that is highly in demand on Wall Street even as the U.S. government at various levels mulls holding a strategic reserve of it.
Further highlighting Bitcoin’s growth, Ecoinometrics noted that BlackRock’s IBIT was not far behind SPDR Gold Shares (GLD), the largest gold ETF. GLD ranks 18th with about $73 billion in AUM.
Interestingly, in mid-December, the cumulative AUM of all U.S. Bitcoin ETFs, including derivatives and leveraged products, surpassed the total AUM of U.S. gold ETFs.
The feat is significant as core Bitcoin proponents argue that the asset will one day surpass gold as a store of value.
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