Silver
has
existed
since
dying
stars
started
spewing
the
metal
out
billions
of
years
ago.
Bitcoin
is
15
–
but
it’s
already
a
bigger
deal
in
the
U.S.
ETF
market.
Bitcoin
ETFs
had
more
assets
than
silver
ETFs
the
instant
the
U.S.
Securities
and
Exchange
Commission
approved
them
last
week,
and
trailed
only
gold
among
commodity-focused
U.S.
ETFs.
Thanks
to
the
conversion
of
the
existing
Grayscale
Bitcoin
Trust
into
an
ETF,
there
was
immediately
almost
$30
billion
stashed
in
bitcoin
ETFs,
according
to
data
compiled
by
CoinDesk.
Silver
ETFs
have
combined
assets
of
about
$11
billion,
according
to
a
etfdb.com.
The
only
commodity
that
remains
more
popular
is
gold
–
which
bitcoin
is
often
called
a
digital
version
of
–
with
roughly
$95
billion.
“This
was
way
beyond
my
short
term
expectation
but
is
a
fantastic
validation
of
bitcoin’s
role
as
a
reserve
product
and
of
the
demand
for
bitcoin
exposure
in
financial
markets,”
21Shares
co-founder
Ophelia
Snyder,
who
launched
one
of
the
ETFs
in
partnership
with
Ark
Invest,
wrote
on
X
(formerly
Twitter).
The
launch
of
bitcoin
ETFs
earlier
this
month
marked
a
historic
event
not
just
for
the
cryptocurrency
community
but
for
ETFs,
too.
The
newly
launched
funds
saw
roughly
$894
million
in
net
inflows
within
the
first
three
days
of
trading,
significantly
higher
than
most
fresh
ETFs
bring
in.