News - Bitcoin overtakes silver in stock market

By Luc Vesters

Bitcoin overtakes silver in stock market

Bitcoin (BTC)
ETF
Investing

Just a week after the ETF was approved by the SEC, has Bitcoin silver already overtaken silver in stock market trading. In terms of assets under management, cryptocurrency has become the second-largest ETF commodity asset class in the US.

The rising popularity of Bitcoin ETFs indicates a growing acceptance of BTC as an investment vehicle. The success can be attributed in part to increasing demand from institutional and retail investors. They apparently prefer to invest in Bitcoin through the new spot ETFs.

Silver was previously the second-largest commodity ETF in terms of assets under management in the US. But Bitcoin spot ETFs hold, including Grayscale's converted GBTC trust, according to information from CC15Capital already about 650,000 Bitcoin now, This amounts to a value of about $27.5 billion.

This development is especially noteworthy given silver's status as a popular commodity investment. Bitcoin ETFs' rise to second place underscores their increasing recognition as a serious investment option, including among institutional investors.

Growing investor interest in Bitcoin ETFs reflects a broader trend toward portfolio diversification. Last but not least, it underscores the credibility of BTC and represents an improvement in Bitcoin's image as a store of value.

The conversion of Grayscale's existing Bitcoin trust into an ETF plays an important role. This created overnight the world's largest Bitcoin ETF, which currently holds about 619,000 BTC.

Against digital gold is only real, physical gold. However, there is still a long way to go before this is overtaken in terms of assets under management on U.S. stock exchanges. Altogether, U.S. ETFs currently holding gold with a total value of an impressive $95 billion.

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