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BitcoinSistemi 2024-12-19 20:52:07

US-Listed Spot Bitcoin Exchange Traded Funds (ETFs) About to Overtake Gold ETFs! Here Are the Details

US-listed spot Bitcoin exchange-traded funds (ETFs) are on the verge of surpassing their gold counterparts in assets under management (AUM), reflecting a significant shift in investor preference towards digital assets. US Spot Bitcoin ETFs Close in on Gold ETFs in AUM Race According to Eric Balchunas, Senior Bloomberg ETF Analyst, the total AUM of spot Bitcoin ETFs in the US is $120 billion, while that of gold ETFs is $125 billion. This development underscores Bitcoin’s growing role as a major investment vehicle amid growing institutional adoption and interest in digital assets. A report by K33 Research reveals that bitcoin ETFs, including leveraged products and futures ETFs, have already surpassed gold ETFs in terms of AUM. As of Sunday, bitcoin ETFs had $129.25 billion in AUM, surpassing gold ETFs at $128.88 billion. Institutional adoption continues to be the driving force behind Bitcoin’s rise. The Chicago Mercantile Exchange (CME), a major venue for institutional Bitcoin futures trading, reported 212,635 BTC in open interest contracts, approaching record levels. The basis premium, a measure of the futures price compared to the spot price, climbed to 16.4%, the highest level since November 2023. This signals strong market momentum, with January contracts trading at sharp premiums to December contracts. The December contract remains the most active contract on the CME with open interest equivalent to 113,480 BTC, making the December rollover a very significant event. Analysts expect further price action as several upcoming bank holidays could further deteriorate January premiums. According to data from Farside, Bitcoin ETFs have seen consistent net inflows totaling $6.5 billion since Nov. 27. Much of this activity is attributed to cash and carry strategies, where investors leverage futures premiums to generate returns. *This is not investment advice. Continue Reading: US-Listed Spot Bitcoin Exchange Traded Funds (ETFs) About to Overtake Gold ETFs! Here Are the Details

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