The launch of Bitcoin ETFs in early January 2024 was one of the most anticipated milestones for the industry. Can we consider the creation of BTC ETFs as a class successful? Eric Balchunas shares his opinion.
The launch of Bitcoin ETFs in early January 2024 was one of the most anticipated milestones for the industry. Can we consider the creation of BTC ETFs as a class successful? Eric Balchunas shares his opinion.
$55 billion in assets, $110 billion in volume: here’s what BTC ETFs achieved in two months
Given that 10 US Bitcoin ETFs have accumulated $55 billion in assets and recorded 100% higher trading volume, their success should be considered “simply absurd,” Bloomberg Senior ETF Analyst Eric Balchunas says in X .
The experienced expert admitted that even if these were the figures at the end of the year 2024, he would rate these achievements as 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.
As Guru-Investingpreviously reported, the Bitcoin spot ETF segment in the US surpassed $50 billion in total liquidity volume a week ago.
Grayscale, Fidelity, and BlockRock products are responsible for most of this huge amount.
Ethereum ETF: Will Hong Kong lead the way?
Right now, analysts are discussing the potential for Ethereum ETF approval in the United States. The launch of ETH spot ETFs could be delayed thanks to both political tensions and the unclear security status of Ethereum (ETH).
As the ETH ETF saga gains traction, Hong Kong could be the first country to give the green light to Ether ETF trading. As noted by Chinese crypto journalist Colin Wu, local media outlets are discussing such opportunities.
If the rumors come true, Hong Kong will have the opportunity to go from follower to leader, the industry representative added.
