On Dec. 16, US spot and derivative Bitcoin ETFs collectively broke $129 billion in net assets, surpassing gold ETFs for the first time.
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Bitcoin exchange-traded funds now collectively manage approximately $104 billion, and are on track to surpass gold ETFs in net assets.
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The fund touts leveraged exposure to Bitcoin and gold as investors brace for inflation and geopolitical strife.
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Currently, a 74% increase takes Bitcoin to over $59,000 and that doesn’t factor in “second-order effects,” says Galaxy Digital.
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But concerns remain that the cryptocurrency would fall harder than its traditional rivals in 2022 on the U.S. Federal Reserve’s increasingly hawkish tones.
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On October 6, Pantera Capital published an investor’s note written by Dan Morehead, the company’s CEO. Unlike the myriad of crypto investors who believe that a bitcoin exchange-traded fund (ETF) will send the crypto asset’s value to the moon, Morehead explains it could be a negative event and when it officially launches he said he […]
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Safe-haven rivals move inversely to one another in a quarter mired by mixed inflation reports, Elon Musk FUD, and a suddenly hawkish Federal Reserve.
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