- Bitcoin ETFs holding is close to 950,000, equivalent to 4.5% of total supply, with U.S. spot ETFs acquiring 1,318 Bitcoins this week.
- BlackRock’s iShares Bitcoin Trust accumulates over 274,000 Bitcoins, attracting investments from major institutions.
- Accelerated adoption of Bitcoin ETFs globally, aided by approvals in Hong Kong, reflects increasing institutional interest.
According to data from HODL15Capital, as of May 10, Bitcoin exchange-traded funds (ETFs) worldwide collectively held 949,756 Bitcoins.
Latest & greatest Bitcoin ETF tracker schedule as of 5/10
Bitcoin ETFs hold 949,756 #Bitcoin around the world
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Bitcoin ETFs Holding Approach 950,000 Globally
The Bitcoin ETFs holding is constituting 4.5% of the total Bitcoin supply. U.S.-based spot Bitcoin ETFs acquired 1,318 Bitcoins throughout the week, with GBTC experiencing outflows.
Glassnode highlighted that Bitcoin reached a pivotal phase three months ahead of Ethereum, with the news surrounding ETFs significantly impacting this acceleration. Recent inflows into leading Bitcoin ETF holdings have spurred a surge.
Amidst the hype and market rally surrounding approval of the spot #Bitcoin ETFs, the unrealized profit of Bitcoin holders expanded considerably faster than that of #Ethereum investors.
As a result, the Bitcoin NUPL metric crossed 0.5 and entered the euphoria phase three months… pic.twitter.com/279OuvTCtZ
— glassnode (@glassnode) May 10, 2024
The approval of Bitcoin ETFs in Hong Kong has further bolstered this momentum, with prominent platforms striving to bolster the adoption of spot Bitcoin ETFs.
See Also: Rep Brad Sherman Has Openly Backed SEC Actions Against The Crypto Industry
Rapid Adoption of Bitcoin ETFs Signals Mainstream Acceptance
BlackRock, a global investment management firm, emerged as a major player in the Bitcoin market. Its iShares Bitcoin Trust amassed over 274,000 Bitcoins, valued at approximately $16 billion as of May 2024.
The trust’s popularity attracted interest from various organizations, including BNP Paribas, the second-largest bank in Europe, which disclosed a $41,684 investment in the BlackRock Bitcoin ETF.
JPMorgan Chase, another American banking giant, acknowledged their Bitcoin ETFs holding in several funds, including offerings from Grayscale, ProShares, Bitwise, BlackRock, and Fidelity, amounting to approximately $760,000.
Wells Fargo, a major U.S. bank, also divulged Bitcoin ETF holdings in a recent regulatory filing.
The growing adoption of Bitcoin ETFs, coupled with significant investments from institutional players, underscores the increasing mainstream acceptance of cryptocurrency as a legitimate asset class.
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The post Bitcoin ETFs Holding Now Accounts For 4.5% Of The Total Bitcoin Supply appeared first on BitcoinWorld.
Bitcoin ETFs Holding Now Accounts For 4.5% Of The Total Bitcoin Supply
