Bitcoin ETFs' 'Simply Absurd' Performance Excites Analyst

The launch of Bitcoin ETFs in early January 2024 was among the most anticipated milestones for the industry. Can we call the inception of BTC ETFs as a class successful? Eric Balchunas shares his take.

$55 billion in assets, $110 billion in volume: Here's what BTC ETFs achieved in two months

Given the fact that 10 Bitcoin ETFs in the U.S. amassed $55 billion in assets and registered 100% larger trading volume, their success should be considered "simply absurd," Senior ETF Analyst at Bloomberg Eric Balchunas says on X.

The seasoned expert admitted that even if these were the numbers at the end of 2024 year, he would call these accomplishments a success.

He also added that he is personally surprised by the impressive performance of Fidelity's FBTC and BlackRock's IBIT products compared to their competitors.

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Tue, 03/05/2024 - 16:15

$50,000,000,000: Bitcoin ETFs Smashed Through Major Milestone

Vladislav Sopov

As covered by U.Today previously, the Bitcoin Spot ETF segment in the U.S. surpassed $50 billion in total volume of liquidity one week ago.

Grayscale, Fidelity and BlockRock's products are responsible for the majority of this massive amount.

Ethereum ETFs: Will Hong Kong lead way?

Right now the analysts are discussing the potential of Ethereum ETF approval in the United States. The launch of spot ETH ETFs might be delayed thanks to both political tensions and the unclear security status of Ethereum (ETH).

As the ETH ETF saga gains traction, Hong Kong might be the first country to greenlight spot Ether ETF trading. As noted by Chinese crypto journalist Colin Wu, local media outlets are discussing such opportunities.

Should the rumors come true, Hong Kong will have the opportunity to transform from follower to leader, the industry representative added.