Bitcoin has overtaken silver as the US’s second-biggest commodity for exchange-traded funds (ETFs). Following the Securities and Exchange Commission’s (SEC) significant endorsement earlier this month, ETFs that track the spot price of Bitcoin have become extremely popular among investors. In just seven days, the asset has risen to become the commodity ETF with the second-highest amount of assets under management (AUM). Additionally, explore the potential impact of the Bitcoin ETF debut on the surge of other cryptocurrencies. According to Jag Kooner, the head of derivatives at Bitfinex, the size of Bitcoin ETFs in the United States has surpassed that of silver ETFs. This growth is attributed to the significant interest from the market, as reported by The Block. The rise in interest has resulted in a significant growth of Bitcoin ETF offerings. Additionally, according to CC15Capital, ETFs that directly invest in Bitcoin now possess around 647,651 BTC, equivalent to an assets under management (AUM) value of $27.5 billion. Gold ETFs still lead in terms of AUM, collectively holding $96.3 billion across 19 different funds. The transformation of Grayscale’s GBTC trust into an ETF played a significant role in this shift. Jag Kooner stated that when Grayscale transformed its current bitcoin trust into an ETF, it instantaneously became the largest bitcoin ETF in the world. I’m sorry, but you haven’t provided any specific text from Crypto News for me to paraphrase. If you provide the text you’re referring to, I’d be happy to help you rephrase it.