Spot Bitcoin ETF Issuers Accumulate BTC
The spot Bitcoin ETF market has seen significant growth since its launch, with eight out of ten approved issuers accumulating a total of 268,149 BTC units, valued at $13.9 billion.
- BlackRock leads the group, with 119,681 BTC worth approximately $6.23 billion.
- Other ETF applicants include Grayscale GBTC, which currently holds 466,535 BTC, and Invesco Galaxy, which has accumulated 7,568 BTC.
Grayscale’s Bitcoin Holding Decreases
Despite the overall growth in the spot Bitcoin ETF market, Grayscale’s portfolio has experienced a drop in holdings due to significant outflows.
- The platform currently holds 459,428 BTC.
- However, recent outflows have reduced compared to when the ETFs were first approved.
Bitcoin ETFs Impact on Price
The outlook of the Bitcoin ETF market has had a significant impact on the price of Bitcoin.
- Since the market began recording huge flows, the price of Bitcoin has surged to over $52,000.
- Experts believe that the price may continue to rise before the upcoming halving event.
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