Bitcoin

ETF COIN

Spot

<ul>
 <li>Nine spot Bitcoin ETFs bought 216,309 Bitcoins, valued at $10.3 billion.&nbsp;</li>
 <li>This amount exceeded the 190,000 Bitcoins that MicroStrategy had in its portfolio.</li>
</ul>
Nine newly launched spot Bitcoin ETFs have accumulated more Bitcoins than <a href="https://thenewscrypto.com/michael-saylor-offloads-microstrategy-shares-to-increase-btc-holdings/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a>, the leading corporate investor in the cryptocurrency. The ETFs, which were <a href="https://thenewscrypto.com/sec-approves-bitcoin-etfs-whats-next-for-btc-and-crypto/" target="_blank" rel="noopener noreferrer nofollow">approved</a> by the US Securities and Exchange Commission (SEC) on January 10, 2024, have bought 216,309 Bitcoins, worth $10.3 billion, in just 20 days.
<a href="https://x.com/HODL15Capital/status/1756474638467531089?s=20" target="_blank" rel="noopener noreferrer nofollow">HODL15Capital</a>, a self-styled capital compounder, revealed this information in a tweet on February 11, 2024. The tweet included a bar chart showing the amount of Bitcoins purchased by each ETF since their launch. The chart indicated that BlackRock’s IBIT and Fidelity’s FBTC were the top buyers of Bitcoin, and that the ETFs’ demand for Bitcoin increased steadily.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/f7uY52ClM9z0cBOIr0F5LwC7kgn3b88H9M7xXL0HA99pcnoOkNYX_ZIFAkCo6gXN2jhXWeHZTu89KEUvG3s-yIC1ma8i6CcsB-dVwpx-uEE7lksBTiPR8_UHqF6X0KGz0OU10mCDWniIXl6hf_xZFII" alt="">
 </figure>
</div>
He also compared ETFs’ Bitcoin holdings with those of MicroStrategy, the well-known asset management firm that has been investing heavily in Bitcoin since mid-2020. As of February 6, 2024, MicroStrategy had 190,000 Bitcoins in its portfolio, which was less than the ETFs’ combined total of 216,309 Bitcoins.
According to <a href="https://twitter.com/EricBalchunas" target="_blank" rel="noopener noreferrer nofollow">Eric Balchunas</a>, an analyst at Bloomberg Media, the surge in investment for Bitcoin spot ETF products was surprising, given the outflow of Grayscale’s GBTC. He also noted that IBIT and FBTC’s holdings topped the list of the 25 largest ETFs by assets in their first month, out of 5,535 ETF launches in three decades.
<h3 class="wp-block-heading" id="h-bitcoin-price-surge">Bitcoin Price Surge</h3>
The introduction of spot Bitcoin ETFs has had a significant impact on Bitcoin price, which has gone through two major phases since January 10. The first phase was a sharp drop from $49,048 to $38,505, as some investors sold their Bitcoins to buy ETF shares. The second phase was a strong recovery from $38,505 to $48,282, as the ETFs increased their Bitcoin purchases and boosted the market sentiment. At the time of writing, Bitcoin is trading at $48,243, up 2.35% in the last 24 hours as per data from CoinMarketCap.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/okx-forays-into-argentinas-crypto-market-after-brazil-debut/" target="_blank" rel="noopener noreferrer nofollow">OKX Forays Into Argentina’s Crypto Market After Brazil Debut</a>

New Spot Bitcoin ETFs Surpass MicroStrategy in BTC Holdings

Table of Contents

TheNewsCrypto

Other articles published on Feb 12, 2024

Ethereum Dencun Launches on Holesky Testnet, Prepares for Mainnet Launch; InQubeta Presale Jumps ...

Chainlink Takes Over Dogecoin In Key Metric As Mysterious Whale Pushes LINK Upwards

Investor Scores Multi-Million Dollar Profit from Timely Bitcoin Trade

Bitcoin Represents 53% of Clients’ Portfolio Holdings in LatAm: Bitso

MicroStrategy Bitcoin Profits Top $3 Billion As Firm Led By Michael Saylor Now Holds More Than 1%...

The Moment Awaited Has Arrived: Bitcoin Climbs Above $50,000 – Here are the Latest Data and Details

Join our free newsletter for daily crypto updates!