More stable than Bitcoin direct investment
Blockchain ETFs are also growing rapidly
The world’s first Bitcoin Listed Index Fund (ETF), which was listed on the Canadian stock exchange this month, is attracting attention by attracting $600 million (about 670 billion won) of funds within one week of launch. Recently, as the price of bitcoin plummeted, the stock price of this ETF also plummeted, but it is analyzed that people who are interested in bitcoin and who are burdened with direct investment are crowded.
According to the financial investment industry on the 26th,’Purpose Bitcoin ETF (BTCC)’, the world’s first ETF that follows the cryptocurrency bitcoin price, has increased its assets under management (AUM) by more than $590 million since listing on the Toronto Stock Exchange on the 18th. appear. During this period, the stock price fell more than 8%.
Prior to the listing of this ETF, a closed trust product of Grayscale, a digital asset manager in the United States, was the most widely known as a bitcoin-related derivative. However, the first official Bitcoin ETF came out when Canadian financial authorities approved the world’s first cryptocurrency ETF. With this news, the price of bitcoin exceeded $50,000.
BTCC ETF is gaining popularity based on increased interest in Bitcoin. Although demand for investment has increased due to the news of Tesla’s CEO Elon Musk’s purchase of bitcoin, many people still feel burdened with direct investment due to high volatility and price. For those, this ETF is emerging as a safe and easy investment alternative to owning it while following the price of Bitcoin. “There is a repressed demand to invest in bitcoin closer,” said Greg Taylor, CIO of Perpose Investments, which operates the product.
Not only Bitcoin, but also blockchain-related global ETFs are showing rapid growth. ‘Invesco Elwood Global Blockchain (UCITS)’, an ETF investing in blockchain technology-related companies, has increased its operating assets by 35% compared to the same period last year this year. In particular, on the 19th, $164.1 million was inflow in a day alone, increasing the AUM by 15%.
Reporter Seol Ji-yeon [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution