{"id":651556,"date":"2024-11-05T03:00:49","date_gmt":"2024-11-05T03:00:49","guid":{"rendered":"https:\/\/wncen.com\/?p=651556"},"modified":"2024-11-04T15:09:00","modified_gmt":"2024-11-04T15:09:00","slug":"bitcoin-etfs-surpass-1-million-btc-holdings-in-less-than-a-year-since-launch-details-inside","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-etfs-surpass-1-million-btc-holdings-in-less-than-a-year-since-launch-details-inside\/","title":{"rendered":"Bitcoin ETFs Surpass 1 Million BTC Holdings In Less Than A Year Since Launch – Details Inside"},"content":{"rendered":"

Bitcoin (BTC) exchange-traded funds (ETFs) have collectively acquired over one million BTC in less than a year since their launch, reflecting strong demand for the digital asset among investors.<\/span><\/p>\n

Bitcoin ETFs Surpass One Million BTC Milestone<\/span><\/h2>\n

According to a <\/span>chart<\/span><\/a> shared by crypto analyst Ali Martinez on X, the cumulative BTC holdings in Bitcoin ETFs have exceeded one million BTC within this short period.<\/span><\/p>\n

\"BTC
Source: ali_charts on X<\/a><\/figcaption><\/figure>\n

To recall, after a lot of deliberation, the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs earlier this year in January. To say that Bitcoin ETFs have proven to be a resounding success won\u2019t be an overstatement.<\/span><\/p>\n

Related Reading: Record-Breaking Day: Spot Bitcoin ETF Trading Exceeds $3 Billion As BTC Eyes Record Peak<\/a><\/div>\n

Bitcoin ETFs have recorded a cumulative total net inflow of $24.15 billion to date. Martinez added that the total value of BTC held by these ETFs currently stands at approximately $70 billion.<\/span><\/p>\n

From a price perspective, BTC has jumped from about $41,900 on January 8 to its current price of $68,941, marking an increase of almost 65%. During this period, BTC reached an all-time high (ATH) of $73,737 in March.<\/span><\/p>\n

With over a million BTC now held in Bitcoin ETFs, roughly 5% of the total 21 million BTC supply is tied up in these financial products, reinforcing Bitcoin\u2019s scarcity narrative.<\/span><\/p>\n

Notably, asset manager BlackRock\u2019s IBIT spot BTC ETF leads the market, holding approximately $30 billion net assets. Grayscale\u2019s GBTC follows with $15.22 billion, and Fidelity\u2019s FBTC ranks third with $10.47 billion in net assets.<\/span><\/p>\n

The growing interest in Bitcoin ETFs is also highlighted in a recent CoinShares <\/span>report<\/span><\/a>, which found that digital asset investment products attracted inflows of over $2.2 billion last week.<\/span><\/p>\n

CoinShares attributed the recent surge in crypto product inflows to the possibility of a Republican victory in the upcoming US presidential election on November 5.<\/span><\/p>\n

Interestingly, higher inflows were seen at the beginning of the week, while outflows emerged toward the end as Democratic candidate Kamala Harris’s odds of winning improved.<\/span><\/p>\n

At the time of writing, decentralized prediction markets platform Polymarket <\/span>shows<\/span><\/a> Harris a 41.6% chance of winning the presidency, while Republican candidate Donald Trump remains the favorite with a 58.5% chance.<\/span><\/p>\n

Trump Win To Benefit Crypto, Experts Opine<\/span><\/h2>\n

While voter opinion on other policies might be split more evenly, the overall consensus as far as crypto is concerned seems to be that a Trump victory may <\/span>benefit<\/span><\/a> BTC and other digital assets.<\/span><\/p>\n

Related Reading: Trump\u2019s Vision: America To Reign As Crypto And Bitcoin Epicenter, Latest Statement Reveals<\/a><\/div>\n

Earlier this month, JPMorgan <\/span>stated<\/span><\/a> that retail investors increasingly view BTC as a \u2018debasement trade\u2019 to protect their assets\u2019 purchasing power amid inflation and that a Trump win could provide \u2018additional upside\u2019 to BTC.<\/span><\/p>\n

That said, Kamala Harris, Biden\u2019s current vice president, is <\/span>reportedly<\/span><\/a> taking a fresh approach to digital assets, in contrast to the current administration’s perceived cautious stance. Whether this will boost her popularity among crypto-focused voters remains to be seen.<\/span><\/p>\n

At press time, Bitcoin is trading at $68,941, up 0.8% in the past 24 hours. According to CoinGecko <\/span>data<\/span><\/a>, Bitcoin dominance stands at 56.7%.<\/span><\/p>\n

\"bitcoin\"
BTC trades at $68,941 on the weekly chart | Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, Charts from X and Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) exchange-traded funds (ETFs) have collectively acquired over one million BTC in less than a year since their launch, reflecting strong demand for the digital asset among investors. Bitcoin ETFs Surpass One Million BTC Milestone According to a chart shared by crypto analyst Ali Martinez on X, the cumulative BTC holdings in Bitcoin ETFs have exceeded one million BTC within this short period. To recall, after a lot of deliberation, the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs earlier this year in January. To say that Bitcoin ETFs have proven to be a resounding success won\u2019t be an overstatement. Related Reading: Record-Breaking Day: Spot Bitcoin ETF Trading Exceeds $3 Billion As BTC Eyes Record Peak Bitcoin ETFs have recorded a cumulative total net inflow of $24.15 billion to date. Martinez added that the total value of BTC held by these ETFs currently stands at approximately $70 billion. From a price perspective, BTC has jumped from about $41,900 on January 8 to its current price of $68,941, marking an increase of almost 65%. During this period, BTC reached an all-time high (ATH) of $73,737 in March. With over a million BTC now held in Bitcoin ETFs, roughly 5% of the total 21 million BTC supply is tied up in these financial products, reinforcing Bitcoin\u2019s scarcity narrative. Notably, asset manager BlackRock\u2019s IBIT spot BTC ETF leads the market, holding approximately $30 billion net assets. Grayscale\u2019s GBTC follows with $15.22 billion, and Fidelity\u2019s FBTC ranks third with $10.47 billion in net assets. The growing interest in Bitcoin ETFs is also highlighted in a recent CoinShares report, which found that digital asset investment products attracted inflows of over $2.2 billion last week. CoinShares attributed the recent surge in crypto product inflows to the possibility of a Republican victory in the upcoming US presidential election on November 5. Interestingly, higher inflows were seen at the beginning of the week, while outflows emerged toward the end as Democratic candidate Kamala Harris’s odds of winning improved. At the time of writing, decentralized prediction markets platform Polymarket shows Harris a 41.6% chance of winning the presidency, while Republican candidate Donald Trump remains the favorite with a 58.5% chance. Trump Win To Benefit Crypto, Experts Opine While voter opinion on other policies might be split more evenly, the overall consensus as far as crypto is concerned seems to be that a Trump victory may benefit BTC and other digital assets. Related Reading: Trump\u2019s Vision: America To Reign As Crypto And Bitcoin Epicenter, Latest Statement Reveals Earlier this month, JPMorgan stated that retail investors increasingly view BTC as a \u2018debasement trade\u2019 to protect their assets\u2019 purchasing power amid inflation and that a Trump win could provide \u2018additional upside\u2019 to BTC. That said, Kamala Harris, Biden\u2019s current vice president, is reportedly taking a fresh approach to digital assets, in contrast to the current administration’s perceived cautious stance. Whether this will boost her popularity among crypto-focused voters remains to be seen. At press time, Bitcoin is trading at $68,941, up 0.8% in the past 24 hours. According to CoinGecko data, Bitcoin dominance stands at 56.7%. Featured image from Unsplash, Charts from X and Tradingview.com<\/p>\n","protected":false},"author":619,"featured_media":651561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,532,7720,1119,78790,1558,8480,2029,7523,92697],"class_list":["post-651556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-etf","tag-blackrock","tag-btc","tag-btcusdt","tag-cryptocurrency","tag-donald-trump","tag-fidelity","tag-grayscale","tag-kamala-harris"],"acf":[],"yoast_head":"\nBitcoin ETFs Surpass 1 Million BTC Holdings In Less Than A Year Since Launch - Details Inside<\/title>\n<meta name=\"description\" content=\"Bitcoin ETFs have collectively acquired over 1 million BTC in less than a year since their launch, showing strong demand for the asset.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-etfs-surpass-1-million-btc-holdings-in-less-than-a-year-since-launch-details-inside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETFs Surpass 1 Million BTC Holdings In Less Than A Year Since Launch - 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