These Spot Bitcoin ETFs Surpass MicroStrategy’s BTC Holdings

9 newly launched spot Bitcoin ETFs have collectively gathered 216,309 Bitcoins (price $10.3 billion) in simply 21 days after launching.

Based on HODL15Capital, the Bitcoin assortment now surpasses the holdings of MicroStrategy, which owns 190,000 BTC, having begun accumulating parts of the asset in August 2020.

Bitcoin ETFs Accumulate Substantial Holdings

The ETFs, BlackRock (IBIT), Constancy (FBTC), Bitwise (BITB), Valkyrie (BRRR), Franklin Templeton (EZBC), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), and WisdomTree (BTCW), now management almost 1% of the overall Bitcoin provide, which is capped at 21 million BTC.

The brand new spot #Bitcoin ETFs maintain extra $BTC than @saylor ‘s $MSTR

The 9 new ETFs bought 216,309 Bitcoin (price $10.3 Billion!!!) in simply 20 days 💥$IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC pic.twitter.com/i8amhqCjWF

— HODL15Capital 🇺🇸 (@HODL15Capital) February 11, 2024

The ETF’s collective holding surpasses MicroStrategy, triples the 66,465 BTC held by stablecoin issuer Tether, and exceeds the combination holdings of all public Bitcoin mining firms.

Notably, MicroStrategy has been main in company Bitcoin adoption since 2020. The agency bought over 14,620 Bitcoins in 2023 alone and, in January 2024, expanded the reserves with 850 Bitcoins price $37.5 million.

Among the many new ETFs, BlackRock’s IBIT stands out with over 80,000 BTC, equal to $3.7 billion, making it the most important by way of property underneath administration. Following carefully is Constancy’s FBTC, with greater than 68,000 BTC holdings valued at $3.2 billion, in accordance with BitMEX Analysis.

EFTs’ Affect on BTC Has Been Constructive

The launch of spot Bitcoin ETFs on January 10 has had a big affect on the worth of Bitcoin. Initially, there was an enormous decline, dropping from $49,048 to $38,505, as sure buyers liquidated their Bitcoin holdings to amass ETF shares.

Nonetheless, this was adopted by a restoration section that noticed the asset surge from $38,505 to $48,282, pushed by an elevated acquisition by ETFs that positively impacted the market sentiment. Based on CoinGecko knowledge, Bitcoin is buying and selling at $48,000, up 12.7% within the final seven days.

Ki Younger Ju, the Crypto Quant founder, talked about that Bitcoin may attain $112,000 inside the yr, fueled by ETF inflows, with the worst-case state of affairs seeing a extra modest worth however not beneath $55,000.

He added that the Bitcoin market has seen a big inflow owing to month-to-month spot ETF investments, at the moment at $9.5 billion, which may see the annual realized cap improve by $114 billion. Regardless of potential outflows from GBTC, he expects a rise of $76 billion to raise the realized cap from $451 billion to between $527 billion and $565 billion.