BTC

$91889.104

-2.69%

ETH

$3321.497

-1.31%

XRP

$2.022

-6.34%

BNB

$693.263

-2.31%

News

Spot Bitcoin ETFs Now Hold 5% of the Total Bitcoin Supply

October 5, 2024 - Around 2 mins mins to read

Key Points:

  • Spot Bitcoin ETFs now hold over 911,000 BTC, representing 5% of Bitcoin’s total supply.
  • BlackRock leads the U.S. ETF market with $22.91 billion in Bitcoin holdings, Grayscale with $13.75 billion, and other firms hold smaller market shares.
The main topic in the cryptocurrency market today is a report indicating that spot Bitcoin ETFs now hold 5% of the total Bitcoin supply.
Spot Bitcoin ETFs Now Hold 5% of the Total Bitcoin Supply

Read more: Spot Bitcoin ETF Inflows Reach 4% of Market Capital Since January 

Spot Bitcoin ETFs Now Hold 5% of Total Supply As Institutional Interest Ramps Up

According to data from Bitcoin Magazine and as of October 5, these funds manage more than 911,000 BTC-a great signal of growing institutional interest in the cryptocurrency.

US-based ETFs are leading the way, with BlackRock leading the market and holding about $22.91 billion in Bitcoin. Second place is Grayscale, holding around $13.75 billion despite a slight decline in market share.

Fidelity doesn’t move from its position. The other companies, WisdomTree, Franklin Templeton, Valkyrie, VanEck, Invesco, Bitwise, and 21Shares, remain with small positions in this market.

Boom in Bitcoin Price and Adoption Following Approval of Spot Bitcoin ETFs

By that very nature, this growing institutional demand for Bitcoin via spot ETFs shows the same optimistic market sentiment at the beginning of the year. Such ETFs were approved in January, and in some months, in March, Bitcoin reached an all-time high of over $73,000, with many pointing at increased adoption and access owing to the new advent presented by Spot ETFs.

Spot Bitcoin ETFs provide investors with an easy way to get exposure to Bitcoin within a familiar ETF framework that they can then use to introduce the asset into retirement or tax-advantaged accounts alongside traditional securities. More importantly, such financial instruments introduce large institutions into a more regulated and easier-to-handle channel to enter the Bitcoin market and, therefore, mainstream finance.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

Blackrock

BTC

Grayscale

Spot Bitcoin ETF

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.