The world of cryptocurrencies has just achieved a historic feat, redefining the perception of value in the digital asset market. Bitcoin-based ETFs (exchange-traded funds) have been rapidly climbing the league tables, surpassing the largest silver trusts in terms of asset management (AuM) and putting gold trusts firmly in their crosshairs.

The highlight of this run is BlackRock’s iShares BTC, which recently recorded an impressive AuM of $10.03 billion. This number represents a significant increase of 35.2% year-to-date, a milestone that highlights investors’ growing appetite for cryptocurrencies as a viable asset class.

Comparatively, the iShares Silver Trust (SLV) saw its numbers take a different path, with an AuM of US$9.626 billion, reflecting a reduction of 4.8% in the same period. The rise of BlackRock’s Bitcoin ETF has not only surpassed the largest silver trust but also signals growing interest and confidence in cryptocurrencies.

Not far behind in the race is the Fidelity WiseOrigin Bitcoin ETF, with an AuM of $6.55 billion, recording a similar gain of 35.2% year-to-date. This performance puts both the BlackRock and Fidelity ETFs ahead of traditional investment vehicles such as the SPDR Gold MiniShares Trust and the Invesco Diversified Commodity Strategy, with AuMs of $6.325 billion and $4.465 billion, respectively.

Furthermore, these Bitcoin ETFs are also outperforming the abrdn Physical Gold Shares ETF, which has an AuM of $2.685 billion. Interestingly, in ninth position on the commodity ETF leaderboard, we find the ARK 21Shares Bitcoin ETF with an AuM of $2.175 billion, outperforming the Invesco DB Commodity Index Tracking with an impressive 35.2% gain since January.

The climb of these Bitcoin ETFs up the leaderboard reflects not only the growing acceptance of cryptocurrencies as an essential component of investment portfolios, but also suggests a paradigm shift in commodity investing. Meanwhile, the Bitwise Bitcoin ETF, in eleventh position, stands out above the United States Petroleum Fund and the US Natural Gas Fund, with the latter recording the biggest drop, with an 18.4% decrease since January.

At the time of publication, the price of BTC was quoted at US$62,390.79, up 1% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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