Key Points:
Read more: Spot Bitcoin ETF Inflows Reach 4% of Market Capital Since January
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.
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. |
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