Outperforming MicroStrategy’s BTC Holdings: An Analysis of Spot Bitcoin ETFs

Outperforming MicroStrategy's BTC Holdings: An Analysis of Spot Bitcoin ETFs


Newly Launched Bitcoin ETFs Amass 216,309 BTC in Just 21 Days

In just 21 days since their launch, nine newly introduced spot Bitcoin ETFs have accumulated a total of 216,309 Bitcoins, valued at $10.3 billion. This surpasses the holdings of MicroStrategy, who own 190,000 BTC and began accumulating the asset in August 2020.

Bitcoin ETFs Control Nearly 1% of Total Bitcoin Supply

The ETFs – BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Valkyrie (BRRR), Franklin Templeton (EZBC), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), and WisdomTree (BTCW) – now collectively control almost 1% of the total Bitcoin supply. This supply is capped at 21 million BTC.

Positive Impact of ETFs on Bitcoin Price

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The launch of spot Bitcoin ETFs on January 10 had a significant impact on the price of Bitcoin. Initially, there was a sharp decline as investors sold their Bitcoin to acquire ETF shares. However, this was followed by a recovery phase that saw the asset’s price surge. CoinGecko data shows that Bitcoin is currently trading at $48,000, up 12.7% in the last seven days.

Predictions for Bitcoin Price

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Ki Young Ju, founder of Crypto Quant, predicts that Bitcoin could reach $112,000 within the year due to ETF inflows. Even in the worst-case scenario, he believes the price will not fall below $55,000. He also expects monthly spot ETF investments to increase by $9.5 billion and contribute to an annual realized cap increase of $114 billion.

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Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.

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