Why Bitcoin ETFs are skyrocketing in the US market..!?

Sowmiya Sriram
Why Bitcoin ETFs are skyrocketing in the US market..!?
 It has been revealed that the famous BlackRock investment company owns three percent of Bitcoins globally. According to the information published by Jayant Mundra on his LinkedIn page, the crypto market has become the fastest-growing market in the world. Jayant Mundra has also revealed some important information in his post. The cryptocurrency market is currently growing rapidly globally. Bitcoin is seen as the most valuable currency. Following the popularity of Bitcoin, the Bitcoin ETF was launched on the US stock market only 11 months ago. It is currently operating as an ETF with a value many times higher than the gold ETF. In the past 11 months, 11 Bitcoin-based ETFs have been launched in the US stock market and have become highly valued. BlackRock was the first to launch a Bitcoin ETF in the US market. It is now an ETF that everyone can invest in.
 Its value has crossed the $50 billion mark in almost 11 months, while previous ETFs launched by BlackRock would reach $50 million only after five years. BlackRock has earned $125 million in a year through the expense ratio alone in this Bitcoin ETF. This is mainly due to the fact that investment institutions are competing to invest in Bitcoins, not just retail investors. Because the value of Bitcoin is increasing day by day, its ETF value is also increasing day by day. Therefore, Bitcoin ETFs have become a tool for growing wealth very easily. The very same company that was saying that Bitcoin was a scam a few years ago has now become a company that is making huge money from it. Now that trump is taking office as the US President with a pro-Bitcoin stance, it is said that not only the value of Bitcoin will increase in the coming times, but also the value of Bitcoin-related ETFs will increase.
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