Bitcoin ETFs have become the biggest gainers of all exchange-traded funds over the past week.
The ProShares Bitcoin Strategy ETF (BITO), the first bitcoin futures-based ETF with half a billion in assets, posted the biggest gain, up 14.62% over the past seven days.
The Valkyrie Bitcoin Strategy ETF (BTF) is not far behind with its $62 million worth of bitcoin futures, up 14.49%.
VanEck and the Simplify Bitcoin Strategy PLUS Income ETF, as well as the Hashdex Bitcoin Futures ETF had similar gains, of about 14%.
Only one ETF tracking the Turkish economy appears in the ranking.
In Europe, bitcoin spot ETN, BTCE of the ETC group traded on Germany’s Xetra, has posted a 25% gain for its 17,168,817 bitcoins in the past two weeks.
There have been stocks that have outperformed bitcoin, but its dominance among ETFs could give the asset more exposure if and/or once it correctly enters a bull market.
This would be a new development, as these forward-looking ETFs did not exist during much of the 2019-2021 bull run, which began at the peak of October 2021.
European ETNs got off to an early start, hitting $2.5 billion in 2020, with only BTCE crossing $1 billion in early 2021.
Similarly, Canadian ETFs launched in mid-2020 and absorbed much of the bull run, while Americans denied any approval of a spot Bitcoin ETF.
This time, though, these ETFs, although based on futures, are available for equity portfolios even during the build phase.
This is the first time bitcoin ETFs have made gains in this category as far as we know, so this kind of exposure could attract more attention from equity investors.
*Article translated by Vinicius Gouveia with permission from TrustNodes.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
