Bitcoin and Ethereum ETFs have made a mark in 2024, dominating the new ETF landscape and capturing significant attention.
In a fascinating twist to the financial markets, Nate Geraci, President of The ETF Store, Inc., has debunked the notion of limited interest in cryptocurrency-focused ETFs. He showcases compelling data that contradicts previous assumptions, highlighting a substantial demand for exposure to digital assets. As Geraci reveals, several of the leading ETFs of 2024 revolve around Bitcoin and Ethereum, underscoring a growing enthusiasm for cryptocurrencies among investors.
Geraci’s insights reveal that out of the 525 ETFs launched in 2024, 13 of the top 25 outperformers are linked directly to Bitcoin or Ethereum. When adding MicroStrategy’s MSTR Option Strategy ETF to this collection, which also features exposure to digital currencies, the number rises to 14.
Bitcoin ETFs Steer 2024’s Success
With Bitcoin ETFs gaining incredible momentum, they lead the top four slots for 2024. Notably, the iShares Bitcoin Trust ETF (IBIT) sees the highest influx of funds, amassing an impressive $21.5 billion year-to-date (YTD).
Similarly, Fidelity’s Wise Origin Bitcoin Fund (FBTC) takes the second position with $9.84 billion in inflows. The ARK 21Shares Bitcoin ETF (ARKB) closely follows, garnering $2.63 billion, while the Bitwise Bitcoin ETF Trust (BITB) rounds out the top four with $2.1 billion in YTD inflows.
Ethereum ETFs Carve Their Own Path
Despite the dominance of Bitcoin, Ethereum ETFs are not far behind in gaining traction. The iShares Ethereum Trust ETF (ETHA) tops Ethereum-specific ETFs with an impressive $1.15 billion YTD inflow. This demonstrates a growing attraction toward Ethereum-based investments.
Trailing ETHA, Fidelity’s Ethereum Fund ETF (FETH) registers inflows of $453.66 million, indicating an emerging trend in Ethereum exposure amidst a backdrop still largely led by Bitcoin-focused strategies.
Franklin Templeton’s Ambitious Crypto ETF Endeavor
In an exciting update, Franklin Templeton seeks to expand its reach in the cryptocurrency market. The influential asset management company has filed with the U.S. Securities and Exchange Commission (SEC) to introduce an ETF that coalesces Bitcoin and Ethereum investments.
The proposed Franklin Templeton Bitcoin and Ethereum Index ETF aims to provide investors an opportunity to engage with the market dynamics of these leading cryptocurrencies, without directly holding the assets. This development could offer a new avenue for diversified exposure to both Bitcoin and Ethereum.
Disclaimer: This content is meant for informational purposes only and should not be considered as financial advice. The opinions expressed are those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct comprehensive research before making any investment decisions. The Crypto Basic will not be held liable for any financial losses incurred.
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