The US market for spot Bitcoin ETFs has witnessed a significant influx of $13.69 billion. Leading the pack are Grayscale’s GBTC, which holds 293,000 BTC, and BlackRock’s IBIT, which holds 284,526 BTC. This milestone demonstrates a positive institutional interest in Bitcoin and its growing acceptance as an investment asset.
The approval of 11 spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) marks a significant shift in the cryptocurrency landscape. Grayscale’s GBTC takes the lead with 289,079 BTC, followed closely by BlackRock’s IBIT with 284,518 BTC. The remaining 7 issuers, including VanEck, Invesco, Bitwise, Valkyrie, Ark/21Shares, WisdomTree, and Franklin Templeton, manage a total of 117,628 BTC.
Since the commencement of trading, the market has witnessed a total trading volume of $1.63 billion. In the last 24 hours alone, the US spot BTC ETF market experienced a net inflow of $251.94 million.
In late April, the Securities and Futures Commission (SFC) in Hong Kong authorized three spot Bitcoin ETFs by ChinaAMC, Bosera HashKey, and Harvest. These newly launched ETFs collectively manage 2,460 BTC, and the total value traded in this market has surpassed $2.48 million.
Apart from the US and Hong Kong, other countries such as Germany, Sweden, Brazil, Switzerland, Canada, and Australia have also embraced Bitcoin ETFs. In Germany, BTC Bitcoin Exchange Traded Crypto (BTCE) holds the largest share with 22,490 BTC under management. Sweden-based ETFs, Bitcoin Tracker Euro (COINXBE) with 17,830 BTC, and Bitcoin Tracker One (COINXBT) with 14,580 BTC, are notable issuers in the nation.
In Brazil, asset manager Hashdex’s BTCETF, HASH11, manages 7,900 BTC. Additionally, this asset manager also operates in the US markets and manages 185 BTC.
Highlighted News of the Day: Solana has enhanced network security by granting validators 100% priority fees.