Bitcoin ETF Market Heats Up

11 New ETFs Approved, More on the Way

In a landmark decision, the US Securities and Exchange Commission (SEC) approved 11 Bitcoin ETFs last week. This is the first time that the SEC has allowed ETFs to invest directly in Bitcoin, and it is a major step forward for the cryptocurrency industry.

Grayscale Bitcoin Trust (GBTC) Remains Largest But Sees Competition

The Grayscale Bitcoin Trust (GBTC) is the largest Bitcoin ETF, with over 237 billion in assets under management. However, it has recently faced competition from new ETFs that offer lower fees and more flexibility.

The BlackRock Spot Bitcoin ETF (BRSP) is one of the most popular new Bitcoin ETFs. It is the first ETF to offer exposure to the spot price of Bitcoin, which means that it tracks the price of Bitcoin as it trades on exchanges.

Other notable new Bitcoin ETFs include the Valkyrie Bitcoin Strategy ETF (BTF) and the VanEck Bitcoin Strategy ETF (XBTF).