The first U.S. Bitcoin ETF marked the crypto funds market explosion in 2021
Even beyond the launch of the first U.S. Bitcoin futures ETF, cryptocurrency funds notched some notable global milestones in 2021.
The number of crypto-tracking investment vehicles worldwide more than doubled to 80 from just 35 at the end of 2020. Assets soared to $63 billion, compared to $24 billion at the start of the year.
--- according to Bloomberg Intelligence data
--- according to Bloomberg Intelligence data
Globally, it's obviously a phenomenon that's starting to take off. If you look at inflows on a volume perspective, not only has it been steady even with the price corrections that Bitcoin is notoriously famous for, but you're seeing a lot of institutions jump in.”
--- Leah Wald, chief executive of crypto asset manager Valkyrie Investments, said on Bloomberg's "QuickTake Stock" streaming program.
--- Leah Wald, chief executive of crypto asset manager Valkyrie Investments, said on Bloomberg's "QuickTake Stock" streaming program.
Grayscale Investments LLC is the largest asset manager in the digital-assets space, with the $30 billion $Grayscale Bitcoin Trust(GBTC.US$ ranking as the world's largest crypto fund.
The First U.S. bitcoin-linked ETF $ProShares Bitcoin Strategy ETF(BITO.US$ incepted in October, which recevied a lot of attention. It only took two days for the fund to accumulate $1 billion.
Unlike an ETF directly connected to spot Bitcoin, the futures-backed products such as BITO are vulnerable to so-called associated with managing contracts. It's likely that investor demand would be even higher if physically backed funds were allowed to launch in the U.S., according to Bloomberg Intelligence.
I can't help but think that the assets in this space would be even larger if we had more efficient structures, like spot ETFs, in the U.S.”
--- said James Seyffart, Bloomberg Intelligence ETF analyst.
--- said James Seyffart, Bloomberg Intelligence ETF analyst.
Watch now: What crypto's breakout year means for the market in 2022
Indeed, flows into the ProShares fund have stalled, with the ETF down more than 30% since its mid-October launch. Meanwhile, similar products from Valkyrie and VanEck have less than $70 million in assets combined.
Valkyrie's Wald is optimistic that flows will pick up in 2022. Institutional money managers are likely waiting to see how the U.S. futures-backed ETF handle the roll costs, she said.
That specific vehicle, I think a lot of money managers want to look at the metrics before jumping in. We're excited about what next year has to hold.”
--- Wald said.
--- Wald said.
Source: Bloomberg
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搞经济 抄底 加仓 : Question; the above, are they really following the Cryptocurrency market fluctuation? or WallStreet indexes? cus from what I sees they are not even following BTC ups and down. Or maybe I miss out something's which I don't know about. Just curious
pinecone spirit : icoa inc not has 5000 bitcoin for etf
ETF HubOP 搞经济 抄底 加仓: There is no ETF directly connected to spot-bitcoin currently available on the market~Both ETFs above tie to bitcoin futures contracts. The Funds does not invest directly in bitcoin, so they won't move as same as bitcoin.
pinecone spirit pinecone spirit: not not icoa's gonna see a comeback
搞经济 抄底 加仓 ETF HubOP: Question 2: the name used Bitcoin. position are US treasury Bill? it make sense??? or m I lag of knowledge? do advise
ETF HubOP 搞经济 抄底 加仓: Clicks 'details' and you can find more.
Michael Murphy : Looks decent.