The recent surge in Bitcoin exchange-traded funds (ETFs) has reached an impressive milestone. A survey conducted by cryptocurrency analyst Ali Martinez revealed that US Bitcoin ETFs have accumulated approximately $58.5 billion in just five months of trading.
The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) on January 10 marked a significant milestone for the cryptocurrency industry. Trading commenced the following day, leading to a surge in market highs in March.
Martinez’s survey highlighted that US spot Bitcoin ETFs have acquired 857,700 BTC tokens, valued at $58.5 billion, in just five months. The analyst advised investors to brace themselves for what lies ahead.
ETFs are a popular choice among dynamic investors who aim to diversify their portfolios at lower costs and with tax advantages. ETFs are collections of assets, and their shares are traded on stock markets. They offer the benefits of mutual funds, stocks, and bonds combined.
As of now, the price of Bitcoin stands at $67,628.94, experiencing a 1.0% decrease in the last 24 hours.
Furthermore, US Bitcoin ETFs have achieved a new record by surpassing 850,000 tokens under management. The total number of bitcoins held in custody reached an all-time high of 850,707 BTC, exceeding the previous peak of over 845,000 BTC in early April. This milestone reflects the increasing interest and confidence of investors in cryptocurrency-based financial products.
Among the top funds, Grayscale’s GBTC holds the largest number of bitcoins, with 289,300 tokens, currently valued at over $20 billion. BlackRock’s IBIT closely follows with 283,200 BTC, worth approximately $19.6 billion. These figures were provided by data analytics firm @HODL15Capital, which continuously monitors the growth and trends in the cryptocurrency ETF space.
It is important to note that the views and opinions expressed in this article, including those of the author and individuals mentioned, are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
In other news, a recent survey reveals the reaccumulation of long-term bitcoin holders for the first time in five months.