Spot Bitcoin ETFs Hit 200K BTC Milestone in Record Time

The nine new U.S. spot bitcoin ETFs have gathered more than 200,000 BTC in less than a month of debut. Except GBTC fund of Grayscale, the statement represents the new benchmark in the crypto investment environment.

These ETFs now account for almost 1 percent of the finite supply of BTC, more than that of industry giants like MicroStrategy and even publicly-traded bitcoin miners.

Leading the Charge

BlackRock’s IBIT surpasses others with its assets being more than 80,000 BTC, and follows Fidelity’s FBTC, indicating a large demand for electronic money. Furthermore, the trading volume of IBIT surpassed that of Grayscale’s GBTC, showing that investor choice has changed as well as market dynamics.

There we have it! The new nine have amassed more than 200k BTC.Second-strongest daily U.S. spot flow since launch yesterday. Since launch, the total net inflow to U.S. spot ETFs sits at a massive 51,134 BTC. — Vetle Lunde (@VetleLunde) February 9, 2024

This emphasizes a rising tendency for the traditional financial architecture incorporation to digital assets via the pooled manner into these ETFs. At the helm of them both, BlackRock and Fidelity, Bitcoin sector experienced its most daily net inflow since January 2021. This shows the huge trust in Bitcoin as an investable asset.

These new Bitcoins ETFs which are shaping the investment domain, demonstrate not only a recognition of the legitimacy of Bitcoin but also the beginning of a new era of depositary management.

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2024-02-09 17:56