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BlackRock Leads Bitcoin ETFs With $3 Billion Of Invested Capital

Nearly a month after their launch in the U.S., BlackRock (BLK) leads the new crop of nearly a dozen spot Bitcoin (BTC) exchange-traded funds (ETFS), having attracted $3 billion U.S. of investors’ capital.

Fidelity Investments is in second place with $2.6 billion U.S. allocated to its spot Bitcoin ETF since the U.S. Securities and Exchange Commission (SEC) approved the investment vehicles on Jan. 10 of this year.

The Grayscale Bitcoin Trust, which converted to an ETF in January after trading like a closed-end fund, still has the most assets under management at $20.60 billion U.S.

However, the Grayscale Bitcoin ETF has lost nearly $6 billion U.S. to other spot Bitcoin ETFs since mid-January, according to market data.

At the other end of the spectrum, the WisdomTree Bitcoin Fund has attracted the least amount of investor capital to date with just $12 million U.S. under management.

The investment firms have been aggressively advertising their new spot Bitcoin ETFs to attract money from both retail and institutional investors.

However, current data shows that most of the money that has poured into the American Bitcoin ETFs to date has come from individuals rather than institutions.

Analysts say that institutional investors are waiting for SEC approval of options on the Bitcoin ETFs that will make it easier for them to hedge bets and engage in more complicated trading strategies related to the largest cryptocurrency by market capitalization.

The price of Bitcoin has risen 88% in the last 12 months to trade at $43,176 U.S.