A Canadian bitcoin ETF has attracted $823 million in just 3 weeks since launching as crypto demand remains strong
- The Canada-based 3iQ
CoinSharesBitcoin ETF has attracted $832 million in assets under management in just three weeks.
- That's the fastest any
bitcoin ETFhas achieved an AUM that high.
- The fund's success comes as bitcoin's market capitalization soars above $1 trillion.
A Canadian bitcoin exchange-traded fund that has only been trading publicly for three weeks has amassed $832 million ($1 billion Canadian dollars) in assets under management.The
The 3iQ CoinShares fund isn't the only bitcoin ETF that's seen a stellar first few weeks of trading. The Purpose Bitcoin ETF hit $1 billion in assets under management one month after it started trading earlier this year.The success of Canadian funds and the swelling market capitalization of bitcoin above $1 trillion has investors wondering if the US SEC will finally approve a fund in the states. The US regulator is currently reviewing applications for at least nine bitcoin ETFs, though a decision to green light a launch may have to wait until at least mid-June.
The 3iQ CoinShares Bitcoin ETF gained 3.7% Friday.Read more: The head of global macro strategy at Delphi Digital breaks down why Bitcoin's price has more room to run over the next 9 to 12 months in 4 charts - and shares what the next 10 years could look like for the emerging crypto economy
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