Buoyed by crypto inflows, US ETF assets hit a record $10 trillion.
Total assets in the United States surpassed $10 trillion for the first time on September 27. .
Investors will have invested nearly $691 billion in US ETFs by 2024, according to a Bloomberg report. They took 3% of the total revenues of the Crypto ETF.
“We will read it [ETFs] It will reach $25T over the next ten years,” said Eric Balchunas, senior ETF analyst at Bloomberg, in a Sept. 27 post on the X Forums.
“Normally, they double their assets every 5 years, but this time it only took 3.7 years,” he added.
Source: Bloomberg
Among crypto funds, BlackRock's iShares Bitcoin Trust led the way with more than $21 billion in inflows since January, Brian Armour, director of equity strategies research at Morningstar, told Cointelegraph.
Second, the Fidelity Wise Origin Bitcoin ETF has generated nearly $10 billion in net income, according to Morningstar data.
The Greyscale Bitcoin Trust ETF — launched in 2013 and listed as an ETF in January — partially offset the asset class' net gains, while simultaneously blocking outflows of nearly $20 billion. The old fund's management fees of 1.5% are much higher than competitors.
Crypto ETFs by net income. Source: Morningstar
In addition to diversifying crypto funds, ETFs will account for 80 percent of new ETF issuance by 2024, using derivatives to provide exposure to a variety of assets, according to Bloomberg.
The microstrategy exchange-traded funds used this week broke $400 million in net assets as retail investors continued to pour into the highly volatile BTC plays.
Asset manager Vanguard — which has deliberately avoided launching crypto ETFs — will account for about a third of its net income by 2024, according to Bloomberg.
Investment managers expect the initial US options spot BTC ETFs to accelerate institutional adoption and unlock “extraordinary upside” for spot BTC holders.
On September 20, the US Securities and Exchange Commission's Nasdaq Electronic Securities Exchange will list options on BlackRock's iShares Bitcoin Trust ETF. It marks the first time the regulator has approved pegged options to identify BTC for US trading.
