Posted 2/27/2024, 6:59:02 PM
Bitcoin ETFs Hold Over $42 Billion in Cryptocurrency As Investor Demand Surges
- The 9 newly approved Bitcoin spot ETFs in the US now hold over 300,000 BTC worth over $17 billion
- This represents 1.5% of the total Bitcoin in circulation
- Grayscale's GBTC ETF holds an additional 444,446 BTC worth $25.3 billion
- Total combined, new and existing Bitcoin ETFs hold nearly $43 billion in Bitcoin
- Demand from investors who want exposure to Bitcoin via ETFs is driving major fund managers like BlackRock to snap up large amounts of the cryptocurrency