Bitcoin surpasses silver to become the second-largest ETF product in the United States.

Bitcoin exchange-traded funds (ETFs) have secured their status as the second-largest ETF product in terms of assets under management (AUM), overtaking silver ETFs in the United States. The surge in popularity of Bitcoin ETFs is a sign that BTC is becoming increasingly accepted as a mainstream investment vehicle.

As The Block reported, Bitcoin becoming the second-largest ETF product in the U.S. is a significant milestone for the Bitcoin market. This performance is due to increased demand from institutional and retail investors seeking BTC exposure.

Silver, which has $11.5 billion in assets under management across five silver ETFs, has passed the spot Bitcoin ETF, which currently holds over $28 billion less than a week after its launch.

“Bitcoin ETFs have surpassed silver ETFs in the U.S. in terms of volume, driven by significant market interest,” Jag Kooner, head of derivatives at Bitfinex, told The Block. “Trading levels reflect pent-up demand for these products, which we expect will increase liquidity and stability in the market.”

This development is particularly noteworthy considering silver’s traditional status as a primary commodity investment. Bitcoin ETF’s rise to second position highlights Bitcoin’s maturity within financial markets, gaining trust and recognition as a powerful investment option.

Investors’ growing preference for Bitcoin ETFs reflects the broader trend of diversification within portfolios and recognition of the unique value proposition that BTC offers. As the Bitcoin market continues to develop, outperforming silver ETFs solidifies Bitcoin’s position as a major player in the global financial landscape.