Market News
Cryptoverse: Next wave of US crypto ETFs already in the pipeline - REUTERS
Jan 10 (Reuters) - What a difference a year makes.
Rewind the clock to early January 2024, and the asset-management industry was anxiously watching to see if the much-anticipated debut of U.S. spot bitcoin exchange-traded funds could live up to expectations they would pull in as much as $30 billion in their first year.
Today, those issuers are cracking open the champagne.
That first wave of bitcoin ETFs attracted a whopping $65 billion in 2024, helping to propel the price of bitcoin from $43,000 to more than $100,000. The largest of those new products, BlackRock's (BLK.N) Shares Bitcoin Trust (IBIT.O), has become the most successful debut in the ETF industry's 35-year history.
