- US Bitcoin ETF outpaced mining provide, gaining 17,941 BTC in September 2024.
- BlackRock's iShares ETF has skilled important development, accumulating 366,451 BTC by September 2024.
- Grayscale ETF holdings decreased to 221,191 BTC, suggesting investor reallocation.
US Bitcoin ETF extracted extra Bitcoin than miners produced in September 2024. In response to HODL15Capital knowledge, the ETFs collectively acquired 17,941 BTC, whereas miners solely mined 13,500 BTC throughout the identical interval.
This surge in demand highlights the rising curiosity in Bitcoin ETFs, which are actually a significant power available in the market. The truth that Bitcoin ETFs have bought 100% of all newly mined Bitcoins, and much more, is a market that would have an enduring affect on the value and availability of Bitcoin. It reveals a change in dynamics.
Bitcoin ETF continues to extend holdings
Moreover, HODL15Capital knowledge reveals that by the top of September 2024, US Bitcoin ETFs will maintain a complete of 931,650 BTC, representing over $60.5 billion in belongings beneath administration (AUM). This elevated demand comes at a time when spot Bitcoin ETFs have gotten more and more in style amongst traders in search of publicity to Bitcoin with out instantly proudly owning the asset.
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Notably, BlackRock's iShares Bitcoin ETF (IBIT) led the best way with a major enhance in holdings. IBIT's Bitcoin holdings jumped from simply 228 BTC in January to 366,451 BTC by the top of September. This equates to whole belongings beneath administration of $23.8 billion.
Constancy's Clever Origin Bitcoin ETF (FBTC) additionally noticed important development, reaching 180,345 BTC by the top of the month, with belongings beneath administration of $11.7 billion. This development is indicative of the development of institutional traders gravitating in the direction of ETFs as a option to acquire Bitcoin publicity.
Whereas some ETFs have skilled spectacular development, the Grayscale Bitcoin ETF (GBTC) has seen its holdings decline. In January 2024, GBTC held 619,162 BTC, which decreased to 221,191 BTC by the top of September. Property beneath administration decreased to $14.4 billion. This implies that some traders are switching to different new ETFs, maybe in search of higher liquidity or charges.
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