{"id":1054,"date":"2024-11-05T05:11:05","date_gmt":"2024-11-05T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-etfs-surpass-1-million-btc-holdings-in-less-than-a-year-since-launch-details-inside\/"},"modified":"2024-11-05T05:11:05","modified_gmt":"2024-11-05T05:11:05","slug":"bitcoin-etfs-surpass-1-million-btc-holdings-in-less-than-a-year-since-launch-details-inside","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/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 \u2013 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.<\/p>\n

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

According to a chart<\/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.<\/p>\n

\"BTC<\/p>\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.<\/p>\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.<\/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.<\/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.<\/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.<\/p>\n

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

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

Trump Win To Benefit Crypto, Experts Opine<\/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 benefit BTC and other digital assets.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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

\"bitcoin\"<\/p>\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…<\/p>\n","protected":false},"author":1,"featured_media":1055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[65,634,111,243,73,71,254,462,687,496,646],"class_list":["post-1054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-news","tag-blackrock","tag-btc","tag-btcusdt","tag-cryptocurrency","tag-donald-trump","tag-fidelity","tag-grayscale","tag-kamala-harris"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1054"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1055"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}