- Currently, over 1 million BTC, or around 5% of the entire supply of Bitcoin, are held by Bitcoin ETFs.
- With sizeable holdings in BTC, Grayscale and BlackRock have the largest positions among Bitcoin ETF holders.
- With 855,619 BTC under management, U.S. Bitcoin ETFs lead the market and demonstrate the confidence of investors.
- Exchange-traded funds (ETFs) that track bitcoin have accomplished a noteworthy milestone. Currently, they possess more than 1 million Bitcoin, or around 5% of the whole cryptocurrency supply.
Leading this industry with significant Bitcoin holdings are Grayscale and BlackRock, demonstrating the growing institutional interest in cryptocurrency investments.
Bitcoin ETFs Contain More Than $1 Million in BTC
ETF holdings were 1,057,039 BTC as of May 23. With more than 291,000 BTC, Grayscale’s GBTC is in the lead, closely followed by BlackRock’s IBIT with 279,500 BTC.
Arkham Intelligence’s most recent data indicates increases: IBIT now has 284,526 BTC, while GBTC currently controls 293,000 BTC.
With 22,490 BTC, the largest holder outside of the US is BTC Bitcoin Exchange Traded Crypto (BTCE), situated in Germany. Bitcoin Tracker One (COINXBT) and Bitcoin Tracker Euro (COINXBE), two Swedish ETFs, manage 14,580 and 17,830 bitcoins, respectively.
5,789 BTC are owned by seven recently established Bitcoin exchange-traded funds (ETFs) in Hong Kong; however, investor interest is still due.
Over 7,900 BTC are held by Hashdex, a major participant in the ETF market, through its HASH11 fund in Brazil. The company’s 185 BTC Bitcoin ETF, DEFI, shows how powerful it is in the US.
US-based ETFs Lead the Market
The data unequivocally demonstrates that asset managers from other nations are falling significantly behind US ETF issuers. Prominent proponent of Bitcoin Michael Saylor emphasized these assets. US ETFs had 855,619 BTC on May 24, compared to 1,002,343 BTC held by worldwide ETFs.
Grayscale continues to dominate the US ETF industry despite a modest fall in market share, according to data on assets under management.
Fidelity and BlackRock continue to hold consistent market shares. Other participants with small market shares include WisdomTree, Franklin Templeton, Valkyrie, VanEck, Invesco, Bitwise, and 21Shares.
Growth and stability in ETFs are key factors in driving trading volumes and serving as gauges of investor confidence.
According to Kaiko Research, the introduction of spot Bitcoin ETFs caused a spike in trading activity during US market hours, which accounted for 46% of the total volume from January to April. The trend persisted, as this past week saw the ETFs’ greatest net flow in ten weeks.
Not only do the ETFs’ growth and stability serve as markers of investor confidence, but they also influence trading volumes.
According to Kaiko Research, the introduction of spot-Bitcoin exchange-traded funds (ETFs) caused a spike in trading activity during US market hours, which accounted for 46% of the total volume from January to April. With the ETFs seeing their biggest net flow in ten weeks, this trend persisted.
The price of bitcoin is currently hovering around the psychological $70,000 mark. Bitcoin outperformed the S&P 500 with a 57% year-to-date gain from January to April 2024.
This data demonstrates how Bitcoin ETFs are having an increasingly significant impact on the cryptocurrency market and how they are influencing trade volumes and investor interest.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
