I need to put into perspective for you just how big and fast the flow of money has been into the newly launched Bitcoin ETFs. It’s quite incredible! The best way to explain is to compare it to the launch of Gold ETFs…
The Australian Stock Exchange was first to market in March 2003 with their Gold ETF but when the US market got its first taste of a gold ETF in 2004, with the launch of the SPDR Gold Shares ETF (NYSE: GLD), this was huge news as the world’s biggest market could now access gold.
Within its first three trading days, GLD attracted $1 billion of inflows. It then took gold ETFs five years to cross $50 billion assets under management (AUM). A pretty incredible feat back then.
But, it doesn’t even come close to the remarkable success of the launch of Bitcoin ETFs…
Gold ETF’s five-year accomplishment took Bitcoin ETFs just 57 days!
That’s right!
Bitcoin ETFs kicked off in January 2024. By, mid-March, Bitcoin ETFs crossed the $50 billion AUM mark. And from there, they’ve continued their upward trend – particularly over the past 20 days or so.
Overall, total AUM now sits at around $62.3 billion in just 57 days! And according to data compiled by Bloomberg, US-listed
Bitcoin ETFs have attracted net inflows for an unprecedented 18 days in a row.
With $21.4 billion, BlackRock’s iShares Bitcoin Trust recently became the world’s largest Bitcoin fund racing ahead of Grayscale’s $20.1 billion Bitcoin trust.
The recent surge in Bitcoin ETF inflows has pushed Bitcoin’s price past $71k as I write this. It’s now up nearly 70% in 2024.
This is just the start for Bitcoin ETFs…
Remember, it was when the GLD listed in the US market that investor interest boomed and the gold price and the GLD rallied +300% over the next few years.
Now, just imagine how high Bitcoin can go…
After all, previous Bitcoin bull cycles have reaped life-changing returns for investors. So, it’s certainly not far-fetched to say
Bitcoin ETFs remarkable growth could help Bitcoin emulate GLD’s triple-digit returns.
As Bitcoin continues to deepen its relationship with traditional financial structures, its net of participants becomes wider, and this should lead to future price gains.
That’s why if you haven’t yet, you should consider allocating a small portion of your investment portfolio to Bitcoin and cryptocurrencies.
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