US Bitcoin Spot ETFs Holdings Top 900k as Institutional Investors Pour in
CryptoNewsTerminal Staff23 Jul, 2024
US Bitcoin Spot ETFs Holdings Top 900k as Institutional Investors Pour in
A new milestone has been reached, as the total holdings of US Bitcoin spot ETFs have surpassed 900,000 BTC, representing an approximate value of $61.2 billion in Bitcoin. This significant increase is a testament to the growing popularity and adoption of Bitcoin as an investment vehicle among institutional investors. According to data from crypto data platform Dune Analytics, these Bitcoin spot ETFs provide investors with a convenient and regulated way to gain exposure to the cryptocurrency without the complexities of directly holding or trading Bitcoin. The majority of these ETFs are listed on major exchanges such as NYSE Arca and Cboe BZX Equities Exchange. The surge in institutional investment is driven by various factors, including the increasing recognition of Bitcoin as a legitimate asset class, its potential as a hedge against inflation, and the growing demand for digital assets from sophisticated investors.
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