Bitcoin ETF Surpasses Silver ETF, Ranking 2nd in Asset Management in the U.S.

In an exciting development for cryptocurrency enthusiasts, the Bitcoin ETF has surpassed the Silver ETF to become the second-largest commodity ETF in the U.S., showcasing Bitcoin's increasing significance in the financial market.

Explore the details of this milestone and how it positions Bitcoin among other major asset classes.

Bitcoin ETF Becomes the Second Largest Commodity ETF in the U.S.

The Asset Under Management (AUM) of the physical Bitcoin ETF has surpassed that of the silver ETF, becoming the second largest commodity ETF in the United States.

This revelation came from the regular reports on BTC holdings of the U.S. approved physical Bitcoin ETFs by CC15Capital. As of January 18, 2023, the total value of the physical Bitcoin ETF is said to be approximately $26.6 billion, equivalent to 650,270 BTC.

In contrast, according to the data from etfdb.com, as of January 18, 2024, the total AUM for silver ETFs across 5 different funds is about $11.3 billion, while the total AUM for gold ETFs across 19 funds stands at about $94.8 billion.

With the inclusion of Bitcoin ETF in this ranking, it is expected to take the second position, behind gold ETFs.

Bitcoin's Presence as an Asset Class

Although there is a significant difference in the AUM between the Bitcoin and gold ETFs, this data highlights the growing prominence of Bitcoin as an asset class. It draws attention to the increasing significance of Bitcoin in the financial market.

Furthermore, Bitcoin has also made its mark in the overall market capitalization rankings for stocks and commodities. It has consistently maintained a position within the top 10.

In December of last year, it surpassed major companies like Tesla and Berkshire Hathaway, ranking 10th, and continues to hold its position.

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