The researchers at Bloqport have confirmed that only a month after launch, the first-ever Bitcoin ETF has reached $1 billion CAD in assets under management or AUM (as of March 20, 2021).
Just one month after launch, the first ever #Bitcoin ETF has hit $1 billion CAD in assets under management.
— Bloqport (@Bloqport) March 20, 2021
Bloqport added that the Purpose Bitcoin exchange-traded-fund or ETF now has a little over 14,195 BTC that’s “physically-backed” and held in cold storage or offline wallets.
Bloqport believes that a U.S. Bitcoin ETF may “likely be at least 25X bigger.”
The researchers added:
“There are now at least 5 U.S. Bitcoin ETF applications awaiting approval: WisdomTree, VanEck, NYDIG Asset Management, Valkyrie Digital Assets, Skybridge and First Trust. A decision by the SEC could come within the next 45 days for the first U.S. Bitcoin ETF.”
On March 20, 2021, Anthony Scaramucci‘s SKyBridge Capital and First Trust had submitted a Bitcoin ETF application, the Bloqport team noted.
While sharing other key crypto and blockchain industry developments, the team at CryptoQuant revealed on March 19, 2021 that Ethereum (ETH) reserves on all exchanges reached a 2-year low.
Meanwhile in Brazil, the Securities and Exchange Commission (SEC) has notably approved the very first Bitcoin ETF in Latin America.
In addition to these developments, the decentralized finance (DeFi) space continues to experience strong growth. The Bloqport Insights team further revealed that DeFiPulse data shows that, as of March 19, 2021, there were 9.2 million ETH – around 8.2% of the total circulating Ethereum supply – that was locked in the nascent DeFi ecosystem.
In other major crypto industry news, the Bloqport team reported that Morgan Stanley is currently holding discussions so it can potentially acquire a stake in South Korea’s leading digital asset exchange Bithumb.
Notably, Cardano’s ADA token, which is now available for trading on Coinbase, saw its futures open interest reach $1 billion (up as much as 5x since the beginning of this year).
In other seemingly bullish crypto industry news, Deutsche Bank has published a detailed report in which it says that Bitcoin’s $1 trillion market cap makes the digital asset too important to ignore.
As covered, a new Yahoo Finance Harris poll reveals that 10% of 18-24 year-olds plan to buy Bitcoin with their stimulus money.