Investments in spot Bitcoin exchange-traded funds (ETFs) are surging, with over 900 professional firms entering the market.

Vetle Lunde, a senior analyst with digital asset intelligence platform K33 Research, pointed out that during the first quarter of ’24, the number of financial entities investing in spot Bitcoin ETFs in the first quarter of 2024 rapidly outpaced those investing in gold ETFs.

In a recent post on social media platform X, he stated:

“According to 13F reporting, 937 professional firms were invested in US spot ETFs as of March 31. In comparison, gold ETFs had 95 professional firms invested in their first quarter.”

First Quarter Inflows: Gold… Read more on bitcoinnews