Michael Saylor: Global BTC Spot ETFs Hold Over 1 Million BTC

IconCryptoNewsTerminal Staff09 Jun, 2024

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Michael Saylor: Global BTC Spot ETFs Hold Over 1 Million BTC

Michael Saylor, the founder and former CEO of MicroStrategy, announced on Twitter that 34 global Bitcoin (BTC) spot exchange-traded funds (ETFs) collectively hold 1,031,973 BTC net. The announcement highlights the growing popularity and adoption of Bitcoin as an investment asset. The ETFs included in the count provide investors with exposure to the price of Bitcoin without the need for direct ownership or storage. They have become increasingly popular among institutional and individual investors seeking to gain exposure to the cryptocurrency market. The news will likely further boost the crypto industry's confidence and attract more investors worldwide.