Becoming the ETF King as Bitcoin Debuts on the Market.

Niti998

After the Bitcoin spot ETF debuted on the 11th, its total trading volume surpassed $4.6 billion on the first day, successfully opening the doors of traditional financial investment to BTC. The trading activity remains consistently high since then.

Bloomberg ETF analyst Eric Balchunas tweeted today (20th), stating that the trading volume of the nine Bitcoin spot ETFs has surged again, rising 12% from Thursday and 53% from Wednesday. This is considered a rare phenomenon. He also pointed out that Fidelity's $FBTC, with a trading volume of $4.99 billion, surpassed BlackRock's $IBIT with $4.29 billion. These two major asset management giants are currently competing for the top position in the Bitcoin spot ETF market.

"In general, the daily trading volume of the nine Bitcoin spot ETFs (including GBTC) surpassed $1.2 billion yesterday, placing them in the top 1% of all ETFs. The daily trading volume of both $FBTC and $IBIT also ranks in the top 2%. It's important to note that the average of ETFs in the top 2% has been on the market for 14 years. The fact that these two spot ETFs reached that level in just one week is truly remarkable."

Franklin Templeton CEO: Significant Demand for Bitcoin from Investors
According to reports on Friday, data shows that the total assets under management of the 11 Bitcoin spot ETFs have exceeded $27 billion, surpassing silver and becoming the second-largest ETF commodity asset category in the United States, second only to gold. This indicates that Bitcoin ETFs have gained significant popularity among mainstream investors.

Jenny Johnson, President and CEO of Franklin Templeton, the multinational asset management giant that listed a Bitcoin spot ETF last week, told CNBC on Friday that she observed "significant demand" for Bitcoin from investors in their spot ETF. Franklin Templeton manages assets exceeding $1.4 trillion.

She believes that Bitcoin ETFs will be welcomed by investors because they allow investors to avoid the complexities of managing wallet private keys. She stated that private key management is technically complex, and if not handled properly, investors may lose or have their Bitcoin stolen.

"It's really complicated. I've done it before, and then I tried to figure out how to get back in, and it's challenging. Therefore, ETFs would be a better way to access it."

She also pointed out that there are many reasons for the increased demand for Bitcoin among the general public. For example, the payment scenarios for Bitcoin are gradually expanding, and many people use it to protect against authoritarian governments, as they fear their fiat currency may be confiscated for saying the wrong things.

Bitcoin is almost considered a component of insurance or security. But I also think it's crucial to drive the next real opportunity in the blockchain world.

Shri

I regret not buying Bitcoin in the end.

Samiksha

It's still good to keep an eye on the news.