The amount of BTC in all Bitcoin investment funds, including ETFs and ETPs, exceeded 1 million.
Bitcoin held in spot Bitcoin exchange-traded funds (ETFs) and Bitcoin exchange-traded products (ETPs) approved by the USA in JanuaryThe amount of itcoin exceeded the 1 million threshold.
Crypto research firm K33this number of 1 million 83% of He stated that it is held by US-based spot Bitcoin ETFs. Europe and Canada ranked second and third in terms of Bitcoin investments. Amount of Bitcoin held on ETFs and ETPs, dto 5.13% of the circulating supply It corresponds.
BlackRock And Fidelity Companies such as offer their customers the opportunity to invest in Bitcoin through these ETFs.
K33’s senior analyst made a statement on the subject Vetle LundeHe stated that the increasing demand for Bitcoin in different areas has significantly reduced the amount of BTC on exchanges:
It is a tremendous threshold for Bitcoin managed in investment instruments to exceed 1 million. These tools have significantly shaken the structure of the Bitcoin market. A few years ago spot exchanges held 20% of the circulating supply; This figure has now fallen to 11% as ETFs/ETPs, wrapped Bitcoin and the emerging derivatives market eat away at market share.