North America's First Bitcoin ETF Assets Surpass $1 Billion

[Image source= Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] The asset size of North America's first Bitcoin exchange-traded fund (ETF) reached $1 billion in less than two months since its listing, Bloomberg reported on the 13th (local time).

Purpose Investments, which launched North America's first Bitcoin ETF, the 'Purpose Bitcoin ETF,' announced that investor interest is strong as the total assets surpassed $1 billion. The Purpose Bitcoin ETF was listed on the Toronto Stock Exchange in Canada on February 18.

The investment enthusiasm for Bitcoin is high, and with the rising Bitcoin price, the ETF's total assets have significantly increased in a short period.

On that day, the Bitcoin price soared to $63,246, breaking its all-time high.

As the Bitcoin market heats up, applications for Bitcoin ETF listings are flooding the U.S. Securities and Exchange Commission (SEC). Bloomberg reported that at least eight companies, including VanEck Associates and WisdomTree Investments, have submitted Bitcoin ETF listing applications. However, the SEC is still hesitant to approve the listings.

Meanwhile, the Bitcoin exchange Coinbase is scheduled to be directly listed on the Nasdaq Stock Market on the 14th.

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