Bitcoin ETF

Bitcoin

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Grayscale Bitcoin Trust

<a href="https://bitcoinworld.co.in/nine-spot-bitcoin-etfs-acquired-over-100k-bitcoin-btc-in-just-seven-days-after-launch/" title="Nine Spot Bitcoin ETFs Acquired Over 100K Bitcoin (BTC) In Just Seven Days After Launch" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Nine spot Bitcoin ETFs acquired over 100,000 BTC in just seven days, while it took roughly 300 days for MicroStrategy to cross this mark.</li> 
</ul> 
While Grayscale’s Bitcoin (BTC) exchange-traded fund (ETF) dumped more than 80,000 BTC in just a few days after trading lunch, other nine spot BTC exchange-traded funds (ETFs) have acquired more than 100,000 BTC. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Nine <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs have amassed over 100,000 BTC in only 7 days of trading. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Saylor spent 3 years accumulating about 190,000 BTC. 
 Do not underestimate the power of the incumbent financial class. 
 They want you to part with your Bitcoin. 
 WE ARE NOT FUCKING SELLING 
 — The ₿itcoin Therapist (@TheBTCTherapist) <a href="https://twitter.com/TheBTCTherapist/status/1749869935440888286?ref_src=twsrc%5Etfw">January 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Nine spot Bitcoin ETFs — including Bitcoin ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) — purchased 102,613 BTC in the first seven days after the trading launch on Jan. 11. 
The amount is worth around $4.1 billion at the time of writing, according to CoinGecko. 
The amount of Bitcoin purchased by spot Bitcoin ETFs in only seven trading days accounts for 53% of all Bitcoin amassed by the giant BTC investor MicroStrategy over the past three years.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/spot-bitcoin-etfs-triggered-a-sell-off-causing-bitcoin-to-drop-below-40000/" aria-label="“Spot Bitcoin ETFs Triggered A Sell-off Causing Bitcoin To Drop Below $40,000” (Edit)">Spot Bitcoin ETFs Triggered A Sell-off Causing Bitcoin To Drop Below $40,000</a> 
According to MicroStrategy’s most recent BTC acquisition report, the firm held an aggregate of 189,150 BTC as of Dec. 26, 2023. 
After starting to buy Bitcoin in August 2020, MicroStrategy crossed the 100,000 BTC mark in roughly 300 days, announcing it held 105,085 BTC in June 2021. 
According to publicly reported data, BlackRock’s IBIT and Fidelity’s FBTC became the largest Bitcoin buyers among spot BTC ETFs since the trading launch, collecting 37,304 BTC and 29,232 BTC, respectively.&nbsp; 
The Bitwise Bitcoin ETF (BITB) and the ARK 21Shares Bitcoin ETF (ARKB) come next, buying 16,451 BTC and 10,630, respectively. 
Unlike other Bitcoin ETFs, Grayscale Bitcoin Trust ETF (GBTC) — the largest Bitcoin ETF by BTC holdings — has been actively selling BTC since its trading launch, dumping 82,526 BTC.&nbsp; 
The amount is worth about $3 billion at the time of writing. 
The massive GBTC selling has triggered a significant drop in the price of Bitcoin, with the cryptocurrency plummeting nearly 20% from above $48,000 on Jan. 11 to as low as $38,700 on Jan. 23, according to data from Coinstats.&nbsp; 
At the time of writing, Bitcoin is <a href="https://coinstats.app/coins/bitcoin/">trading</a> at $40,243.17, up about 2% over the past 24 hours. 
<figure id="attachment_63370" aria-describedby="caption-attachment-63370" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-63370" src="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-21-483x300.png" alt="" width="633" height="393" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-21-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-21.png 760w" sizes="(max-width: 633px) 100vw, 633px">
 <figcaption id="caption-attachment-63370" class="wp-caption-text">
 BTC Price Chart | Source: Coinstats
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Some industry observers linked GBTC selling to the estate of the collapsed FTX crypto exchange dumping $902 million in GBTC shares. 
Many analysts also suggested that GBTC’s high trading fees triggered the outflows.&nbsp; 
As previously reported, GBTC charges as much as 1.5% for trading fees without waivers, while other ETF sponsors set fees between 0.2% and 0.4%, also offering temporary waivers. 
The post <a href="https://bitcoinworld.co.in/nine-spot-bitcoin-etfs-acquired-over-100k-bitcoin-btc-in-just-seven-days-after-launch/">Nine Spot Bitcoin ETFs Acquired Over 100K Bitcoin (BTC) In Just Seven Days After Launch</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Nine Spot Bitcoin ETFs Acquired Over 100K Bitcoin (BTC) In Just Seven Days After Launch

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