Bitcoin Takes a Slice of the Institutional Pie!
The following image illustrates a comparison between Spot Bitcoin ETFs and such stock market titans as the SPDR S&P500 ETF Trust and Invesco QQQ Trust Series 1, based on Bloomberg’s data as of January 11, 2024.
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The following image illustrates a comparison between Spot Bitcoin ETFs and such stock market titans as the SPDR S&P500 ETF Trust and Invesco QQQ Trust Series 1, based on Bloomberg's data as of January 11, 2024.
Comparison of Spot Bitcoin ETFs with SPDR S&P500 ETF Trust and Invesco QQQ Trust Series 1 Source: Bloomberg Intelligence
Spot Bitcoin ETFs are currently at the forefront in terms of volume of shares and number of trades, although this surge is likely a result of the initial excitement surrounding them.
The SPDR S&P500 ETF Trust is an exchange-traded fund striving to deliver investment outcomes, before expenses, that align closely with the S&P 500 Index's price and yield performance.
The Invesco QQQ is an exchange-traded fund based on the Nasdaq-100 Index, comprising the 100 largest non-financial corporations traded on the Nasdaq stock market, ranked by market capitalization.
In the initial showdown of spot Bitcoin ETFs, Bitwise's BITB has clinched the top spot. Following closely are Fidelity in second place and BlackRock in third, as per Eric Balchunas, Bloomberg's senior ETF analyst.
He also remarks that the current data is not yet conclusive, with a more comprehensive view expected to emerge by Tuesday evening (Eastern Time).
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