In Just Five Days, Bitcoin Surpasses Silver to Become the Second-Largest ETF in the United States, Second Only to Gold

Bitfinex’s derivatives director, Jag Kooner, told The Block that he believes the conversion of Grayscale’s Bitcoin Trust (GBTC) into a spot ETF has been one of the key factors behind the rapid rise of Bitcoin ETFs, creating the world’s largest Bitcoin ETF almost overnight.