Spot Bitcoin exchange-traded funds (ETFs) have already amassed a staggering $10 billion in assets under management (AUM) within their first 20 days of trading, showcasing the fervent investor interest in this novel investment vehicle.

Bitcoin ETF Flow – 9th Feb

All data out. Strong day at $541.5m of net inflow

Invesco had an outflow, the first non-GBTC product to have an outflow day pic.twitter.com/UCFDVAaKD3

— BitMEX Research (@BitMEXResearch) February 10, 2024

Leading the charge are BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, boasting holdings of $4 billion and $3.4 billion respectively. 

ARK 21Shares Bitcoin ETF also recently surpassed the $1 billion mark on February 10. 

While Grayscale Bitcoin Trust (GBTC) continues to experience outflows, the pace has slowed, with its smallest daily withdrawal on February 9. 

Analysts anticipate further growth as trading firms complete their evaluations of these investment vehicles.

See Also: Spot Bitcoin ETFs Hit $10B Milestone Just One Month After Approval

ARK Invest, known for its bullish stance, sees Bitcoin replacing gold as a safe haven asset, predicting continued price appreciation due to its growing role in financial markets. 

They believe Bitcoin’s antifragile nature will allow it to weather rising interest rates and inflation, offering a unique advantage in the current macroeconomic climate.

The recent approval of Bitcoin ETF applications by the SEC, after over a decade since the first proposal, marks a significant milestone. 

This development signifies not only the growing institutional embrace of Bitcoin but also a potential shift in how investors perceive it as a store of value.

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