On a sure-to-be historic day for Bitcoin, I spent the morning looking back at historical data to see how impactful the first Gold ETF was at the time. We’ve seen plenty of analysts, including our own, talk about how Gold ETFs changed the landscape for the commodity, leading to outsized gains over the proceeding 20 years. Yet, what was it really like at the time? Did gold explode on day one, or did it take time? Let’s dig in.
First, let’s look at the timeline of the relevant exchange-traded products we will look at.
On Nov. 18, 2004, State Street Corporation launched SPDR Gold Shares (GLD), acquiring $114,920,000 in assets under management on launch and $1 billion in its first three trading days.
On Oct. 19, 2021, ProShares launched ProShares Bitcoin Strategy ETF (BITO), which had $570 million in inflows on day one, hitting $1 billion in assets the next day.
On Jan. 11, 2024, eleven spot Bitcoin ETFs will launch in the U.S. with $115.88 million under management via the sponsors’
We współpracy z: https://cryptoslate.com/prediction-bitcoin-etf-will-now-dwarf-gold-performance-based-on-historical-data/
