Bitcoin ETFs are booming! The total amount of Bitcoin held by these funds has just crossed a massive milestone: 900,000 BTC! That’s over 4% of the total Bitcoin supply, and it’s a huge sign that investors are really starting to believe in Bitcoin.
A Big Milestone for Bitcoin ETFs
This huge amount of Bitcoin is worth over $60 billion! It’s also a huge chunk of the global Bitcoin ETF market, making up 82% of the total holdings.
What’s driving this growth? It seems like investors are really piling into Bitcoin ETFs. In just two weeks, these funds saw a whopping $2.38 billion in new money flowing in! That’s on top of the $17 billion that’s been invested since they launched earlier this year.
BlackRock Leads the Charge
BlackRock, the world’s largest asset manager, has been a major player in this growth. Their iShares Bitcoin Trust (IBIT) is now holding over 325,000 BTC, worth over $21 billion! That’s a huge amount of Bitcoin, and it shows just how much faith BlackRock has in the future of Bitcoin.
Bitcoin Accumulation is Growing
It’s not just Bitcoin ETFs that are seeing a surge in interest. The amount of Bitcoin being held by large investors (whales) has also been increasing. This suggests that more and more people are buying Bitcoin and holding onto it, which could be a sign of things to come.
So what does this all mean? It seems like Bitcoin is gaining momentum. With more and more investors piling into Bitcoin ETFs and holding onto their Bitcoin, the future of this cryptocurrency looks bright. /p>
