[02/20/24] Spot Bitcoin ETFs Climb Amid Geopolitical Turmoil

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES

As the U.S. headed for a long holiday weekend, spot bitcoin ETF flows continued their torrid pace. Through Feb. 15, according to the research arm of crypto exchange BitMex, the five-week old products have netted about $4.6 billion in flows, underlining the strong investor appetite for a way to engage with crypto without the bother of purchasing and holding the asset directly.

Removing Grayscale, which converted its trust into an ETF and was already managing more than $28 billion in assets, the nine products that started at a standstill are now overseeing over $13.6 billion in AUM with the BlackRock iShares Bitcoin ETF (IBIT) already ranking among the top 230 ETFs overall by this measure.

But this most recent surge also reflects the public’s re-embrace of bitcoin as a safe haven asset at a time of macroeconomic uncertainty. In her most recent Crypto Is Macro Now newsletters, analyst Noelle Acheson highlighted reports showing an erosion of trust in democratic systems, including the U.S. which has entered a fraught election year.

Bitcoin, meanwhile, skipped merrily past $52,000 on Thursday, its highest level since late 2021, and now possesses a market cap of over $1 trillion.

By James Rubin

Below is a roundup of the key developments in the ETF industry for the seven-day period ending Feb. 16, 2024:??

Morgan Stanley Seeks SEC Approval for Dual Mutual Fund-ETF Share Class?Vanguard’s expired patent on the structure has cleared the way for competitors to follow suit.

QQQ's Dip on CPI Shows How ETFs Tip Off Investors?Upturn in VIXY, USO can also be seen as canaries in the coal mine.

How Are ETF Dividends Taxed??Learn to navigate the complexities of ETF dividend taxation in this segment of etf.com’s Dividend Content Series.

Spot Bitcoin ETFs Now the World’s Largest BTC Holder?Analyst projects spot fund inflows can propel bitcoin’s price above $100,000 in 2024.

Coinbase's Jump Highlights Crypto ETF Outperformance Equity-based crypto ETFs are outperforming BTC and spot bitcoin ETFs.

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