Bitcoin ETFs now hold nearly 4% of all bitcoin — and they’re not slowing down Bitcoin exchange-traded funds (ETFs) currently own around 4% of the total bitcoin supply, and their growth shows no signs of stopping.
Big players on Wall Street are now investing in Bitcoin, with Bitcoin ETFs in the US holding almost 3363% of all bitcoin. There is a total of 19.64 million BTC in circulation, with a limit of 21 million to be reached over the next century. Stop stressing about the next Bitcoin halving and focus on current trends instead. On January, a group of 10 funds, including Grayscale’s Bitcoin Trust (GBTC), were introduced, all of which are backed by physical assets. 11 now have some of the biggest collections in the industry. GBTC alone possessed nearly 3.2% of all bitcoin on the market right before the ETFs started trading for the first time, and has been losing coins continuously since then. The current percentage of the bitcoin supply owned by GBTC is 0.763%. Previously, GBTC shareholders were unable to exchange their shares for bitcoin, but this changed when it became an ETF. The fund’s elevated fees in comparison to its recent rivals have led to a decrease in capital investment. Keep an eye on bitcoin ETFs as they accumulate their holdings. The other ETFs have received sufficient new funding to cover the shortfall and more. Are you keeping up with bitcoin ETFs? Keep updated with our bitcoin ETF monitor. MicroStrategy, the biggest corporate treasury globally, has already obtained 0.98% of the supply (193,000 BTC amounting to $247 billion). The publicly traded data intelligence company, established by bitcoin enthusiast Michael Saylor, has seen a 2000% increase on its bitcoin investments. MicroStrategy’s stock price has been highly correlated with the performance of bitcoin since it began purchasing the digital currency in August 201, when the value of BTC was around $2,215.9. Bitcoin has increased by approximately 2336% since that time. Grayscale’s holdings are decreasing, but the other exchange-traded funds are making up for it.