Bitcoin ETFs Soar in May 2024
Grayscale Bitcoin Trust Leads the Charge
Bitcoin exchange-traded funds (ETFs) have been gaining immense popularity in recent months, and May 2024 has proven to be a particularly strong month for these investment vehicles.
Grayscale Bitcoin Trust (GBTC)
Grayscale Bitcoin Trust, the largest Bitcoin ETF in the world, has witnessed a surge in its assets under management (AUM), which currently stand at a staggering 237 billion dollars. This unprecedented growth has positioned GBTC as a dominant player in the Bitcoin ETF market.
The trust's performance has been driven by the rising demand for regulated exposure to Bitcoin. Institutional investors, in particular, have been flocking to GBTC as a means of gaining access to the cryptocurrency without the complexities and risks associated with direct ownership.
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