Bitcoin ETF

Bitcoin

ETF COIN

Spot

<p>The post <a href="https://coinpedia.org/news/institutional-giants-bet-big-on-bitcoin-whos-dominating-institutional-purchases-this-week/" rel="noopener noreferrer nofollow">Top Institutions Holding Bitcoin Buy $860M in One Week; 3.3% Locked in ETFs</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>It’s nearly impossible to predict what will be the next development in the crypto space. Now,<a href="https://coinpedia.org/news/spot-bitcoin-etfs-soar-as-21shares-celebrates-historic-success-vaneck-faces-challenges-whats-next-for-crypto/" rel="noopener noreferrer nofollow"> Spot Bitcoin ETFs</a> are causing quite a stir, attracting a significant uptick in institutional attention. Recent data from Lookonchain, a premier on-chain analytics platform, reveals substantial investments from major players like BlackRock into Bitcoin this week.</p>
<p>Read more below.</p>
<h2 class="wp-block-heading" id="h-bitcoin-etf-issuers-make-waves"><strong>Bitcoin ETF Issuers Make Waves</strong></h2>
<p>Lookonchain’s recent analysis shows that Spot Bitcoin ETF issuers collectively secured an impressive 19,908 BTC, equivalent to a whopping $860 million, in just this week.</p>
<p>It’s important to note that this analysis excludes WisdomTree’s BTC purchases, suggesting that the actual figure could be even higher, factoring in the contributions from this asset manager.</p>
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   <p>Feb 1 Update:<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> decreased 5,086 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($218M).<br><br>8 ETFs added 8,907 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($382M), of which <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Fidelity</a> added 5,422 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($232.6M).<a href="https://t.co/wSvnyoT8Kp" rel="noopener noreferrer nofollow">https://t.co/wSvnyoT8Kp</a> <a href="https://t.co/2vsiJ3GGXF" rel="noopener noreferrer nofollow">pic.twitter.com/2vsiJ3GGXF</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1753081093321105693?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<p><a href="https://platform.arkhamintelligence.com/explorer/entity/wisdomtree" rel="noopener noreferrer nofollow">Arkham Intelligence</a> sheds more light on WisdomTree’s Bitcoin fund, which saw a boost of 74 BTC in its wallet address for the Spot Bitcoin ETF. The cumulative result reveals that all Spot Bitcoin ETF issuers amassed nearly 20,000 BTC during the week, underlining the growing institutional interest in Bitcoin.</p>
<p>Read More:<a href="https://coinpedia.org/news/will-sec-approve-bitcoin-options-etf-in-2024/" rel="noopener noreferrer nofollow"> Will SEC Approve Bitcoin Options ETF in 2024?</a></p>
<h2 class="wp-block-heading" id="h-bitcoin-etfs-hold-3-3-of-circulating-supply"><strong>Bitcoin ETFs Hold 3.3% of Circulating Supply</strong></h2>
<p>Lookonchain’s data further indicates that Bitcoin ETFs now hold over 657,000 BTC, excluding WisdomTree, representing an impressive 3.3% of Bitcoin’s circulating supply. Matt Hougan, Chief Investment Officer at<a href="https://coinpedia.org/crypto-live-news/bitwise-commits-to-donating-10-of-bitcoin-etf-profits/" rel="noopener noreferrer nofollow"> Bitwise</a>, highlights the success of these funds, noting a remarkable $1.7 billion in inflows after just 14 trading days. In comparison, Gold ETFs attracted $1.3 billion in a similar timeframe.</p>
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   <p>Bitcoin ETF flows after first 14 trading days: $1.7 billion <br><br>Gold ETF flows after first 14 trading days: $1.3 billion</p>— Matt Hougan (@Matt_Hougan) <a href="https://twitter.com/Matt_Hougan/status/1753183681110564931?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<p>In a recent update, Hougan emphasized that Spot Bitcoin ETFs garnered an astonishing $700 million in net inflows this week alone, solidifying their status as a powerful investment avenue.</p>
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   <p>Spot bitcoin ETFs have taken in ~$700m in net flows this week alone. Absolutely amazing.<br><br>People overestimated the short-term impact of ETFs and continue to dramatically underestimate the long-term impact. <a href="https://t.co/OwJsSTURZm" rel="noopener noreferrer nofollow">https://t.co/OwJsSTURZm</a></p>— Matt Hougan (@Matt_Hougan) <a href="https://twitter.com/Matt_Hougan/status/1753069216994115988?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<h2 class="wp-block-heading" id="h-blackrock-leaves-grayscale-behind"><strong>BlackRock Leaves Grayscale Behind</strong></h2>
<p>Bloomberg analyst James Seyffart reports a groundbreaking achievement for BlackRock’s IBIT, which appears to have outpaced<a href="https://coinpedia.org/news/bitcoin-btc-price-to-take-deep-plunge-matrixport-makes-bold-predictions-at-36k/" rel="noopener noreferrer nofollow"> Grayscale’s GBTC</a> in single-day trading volume. Despite Grayscale’s historical dominance, IBIT recorded an impressive $301 million in trading volume on February 1, surpassing GBTC’s $290 million.</p>
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   <p>Still some after hours trading left but looks like BlackRock's <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> is the first ETF to trade more than Grayscale's <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GBTC</a> in a single day. <br><br>Total trading today was kind of a dud though at $924 million — first day below $1 billion in dollar volume for the group since launch. <a href="https://t.co/IeIF2COm4F" rel="noopener noreferrer nofollow">https://t.co/IeIF2COm4F</a> <a href="https://t.co/ZtADLBQP63" rel="noopener noreferrer nofollow">pic.twitter.com/ZtADLBQP63</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1753165420482244632?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<p>Seyffart notes that while the total daily trading volume was somewhat subdued, all Spot Bitcoin ETFs collectively achieved an impressive $924 million in trading volume.</p>
<p>The surge in institutional buyers, notably BlackRock, signifies a profound shift in the dynamics of the cryptocurrency market. Spot Bitcoin ETFs are not only gaining traction but are also reshaping daily trading patterns.Also Read:<a href="https://coinpedia.org/research-report/monthly-bitcoin-etf-tracker-analysing-market-performance/" rel="noopener noreferrer nofollow"> Monthly Bitcoin ETF Tracker: Analysing Market Performance</a></p>

Top Institutions Holding Bitcoin Buy $860M in One Week; 3.3% Locked in ETFs

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