Bitcoin ETFs in the US have gained over $52 billion in assets, exceeding expectations

From Investing.com

September 3, 2024 01:15 AM:

In just eight months, newly approved bitcoin exchange-traded funds (ETFs) in the U.S. have amassed over $52 billion in assets, exceeding expectations. Despite this success, some investors see bitcoin as speculative, resembling art or fine wine with volatility. Morgan Stanley endorsing two bitcoin ETFs marks a milestone, anticipating wider acceptance.
Retail investors heavily invested in new ETFs, with a few large institutions publicly disclosing holdings. Despite the market buzz, crypto ETFs must gain further traction for mainstream status. Ethereum ETFs lag behind bitcoin counterparts, with assets reaching nearly $7 billion a month after launch. Education and understanding are crucial to boost enthusiasm for ether investments.
Ether’s unique characteristics as a smaller and distinct cryptocurrency pose challenges for regulators and investors. It is compared to digital oil, with potential value tied to network utility. Despite initial excitement, a more complex sales pitch is necessary for ether ETFs to gain traction.

Read more at Investing.com: Bitcoin ETFs take $50 billion baby steps toward big time By Reuters