2024

Satoshi Nakamoto

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-achieve-unexpected-success-in-january-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Achieve Unexpected Success in January 2024</a><br></p>
<p style="text-align: justify">Launched in January 2024, spot Bitcoin exchange-traded funds (ETFs) have achieved greater success than anticipated. These funds are rapidly growing and have become one of the most well-received ETFs in history.</p>
<h2 id="spot-bitcoin-etfs-rapidly-expand">Spot Bitcoin ETFs Rapidly Expand</h2>
<p style="text-align: justify">The pace of growth for these ETFs is so robust that they are expected to hold more BTC than Satoshi Nakamoto by the end of the year. Spencer Hakimian, founder of Tolou Capital Management, commented that, “By Christmas, the ETFs will own more BTC than Satoshi.”</p>
<h2 id="governments-and-companies-among-major-btc-holders">Governments and Companies Among Major BTC Holders</h2>
<p style="text-align: justify">Bloomberg’s senior ETF analyst Eric Balchunas highlighted that BlackRock’s IBIT fund is on the verge of holding more BTC than the anonymous creator of Bitcoin. The Chinese government leads with 194,000 BTC, while the U.S. government holds 203,239 BTC, and MicroStrategy boasts a significant Bitcoin portfolio with 252,220 BTC.</p>
<h2 id="sec-delays-decision-on-spot-ethereum-etf-options">SEC Delays Decision on Spot Ethereum ETF Options</h2>
<p style="text-align: justify">The U.S. Securities and Exchange Commission (<a href="https://en.coin-turk.com/bitcoin-faces-new-challenges-as-prices-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>) has postponed its decision regarding spot Ethereum ETF options. Although trading options for BlackRock’s IBIT fund have been approved, the decision for Ethereum funds is now scheduled for mid-November. Senior ETF analyst James Seyffart stated, “The SEC’s decision on Ethereum ETF trading options will likely be announced in April 2025.”</p>
<p style="text-align: justify">As spot Bitcoin ETFs show extraordinary growth, major investors and institutions continue to express interest in these funds. Increased BTC reserves by large financial institutions like BlackRock signal positive indications for the <a href="https://en.coin-turk.com/insights-on-ethereum-and-bitcoin-dynamics-by-renowned-analyst-crypto-capo/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/key-developments-awaiting-crypto-investors-this-week/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market.</p>
<p style="text-align: justify">Meanwhile, Grayscale’s GBTC fund continues to see a decrease in net outflows, with only one day of net outflow in the last five trading days.</p>
<p style="text-align: justify">While the SEC’s indecision and regulatory hurdles delay the approval of spot Ethereum ETFs, the future of spot Bitcoin ETFs remains a closely monitored area by investors. The growth potential of these spot Bitcoin ETFs presents new opportunities for both individual and institutional investors.</p>
<p style="text-align: justify">The success of spot Bitcoin ETFs contributes to broader acceptance of the cryptocurrency market and establishes a more solid position among financial instruments.</p>
<p>The post <a href="https://en.coin-turk.com/spot-bitcoin-etfs-achieve-unexpected-success-in-january-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Achieve Unexpected Success in January 2024</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Spot Bitcoin ETFs Achieve Unexpected Success in January 2024

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