Bitcoin ETFs Surpass 1 Million BTC Holdings In Less Than A Year Since Launch – Details Inside
Bitcoin exchange-traded funds (ETFs) have acquired over one million BTC within a year of their launch, indicating strong investor demand. The US Securities and Exchange Commission approved spot Bitcoin ETFs in January, leading to a cumulative net inflow of $24.15 billion and a total value of approximately $70 billion in BTC held by these ETFs. Bitcoin's price increased from about $41,900 to $68,941, peaking at $73,737 in March. Currently, around 5% of the total 21 million BTC supply is held in ETFs. BlackRock’s IBIT ETF leads with about $30 billion in net assets, followed by Grayscale’s GBTC and Fidelity’s FBTC. Recent inflows into digital asset investment products reached over $2.2 billion, influenced by potential political outcomes in the upcoming US presidential election. Experts suggest a Trump victory could benefit Bitcoin, while Kamala Harris's approach to digital assets may impact her popularity among crypto voters. Bitcoin is currently trading at $68,941 with a dominance of 56.7%.
