Michael Saylor Celebrates BTC ETF Reserve Surpassing 1 mn BTC
MicroStrategy CEO Michael Saylor celebrated a significant milestone in the Bitcoin ETF arena, stating that 32 Bitcoin ETFs now hold over 1 Nakamoto of Bitcoin (BTC) in reserve.
The growth of Bitcoin ETFs and their accumulated reserves is evident in the US market, with US-based ETFs emerging as the biggest contributors.
In the US, Grayscale’s GBTC ETF holds the largest share at 289,040 BTC, while BlackRock’s iShares Bitcoin Trust (IBIT) has expanded its reserve to 287,168 BTC from 225 BTC at launch.
Other significant contributors include Fidelity’s Wise Bitcoin ETF with 161,538 BTC and the Ark 21Shares ETF (ARKB) with 48,503 BTC.
Internationally, Bitcoin ETPs have collectively garnered 1 mn BTC, solidifying Bitcoin’s position as a global investment asset.
The strong institutional interest could be a bullish signal for the future trajectory of the Bitcoin price, as the supply crunch could occur as the BTC exchange reserve plummets to new lows.
(With inputs from Shikha Singh)
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