{"id":247409,"date":"2024-02-14T22:29:09","date_gmt":"2024-02-14T16:59:09","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=247409"},"modified":"2024-02-14T22:29:09","modified_gmt":"2024-02-14T16:59:09","slug":"spot-bitcoin-etf-now-hold-1-of-total-supply-as-price-hits-52k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/spot-bitcoin-etf-now-hold-1-of-total-supply-as-price-hits-52k-crypto-news\/","title":{"rendered":"Spot Bitcoin ETF Now Hold 1% of Total Supply as Price Hits $52K – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The spot Bitcoin ETF market is seeing impressive traction with the total value locked has now surpassed 216,309 BTC from 9 active issuers.<\/span><\/p>\n

Spot Bitcoin ETF Milestones<\/strong><\/h2>\n

Since the spot BTC ETF products have been greenlighted by the United States Securities and Exchange Commission (SEC), there has been a <\/span>consistent inflow<\/span><\/a> into the market as institutional investors turned up to embrace the asset class.<\/span><\/p>\n

<\/p>\n

According to market analyst Lark Davies, the 216,309 BTC held by 9 spot Bitcoin ETF issuers besides Grayscale now represents 1% of the maximum final BTC supply.\u00a0<\/span><\/p>\n

\n

All 9 BTC ETFs (excluding GBTC) now hold a total of 216,309 $BTC<\/a>.<\/p>\n

That’s over 1% of the maximum final BTC supply.<\/p>\n

<\/p>\n

This takes these ETF holdings over MicroStrategy’s, which is in possession of 190K BTC.<\/p>\n

A massive supply shock is coming! pic.twitter.com\/Sg3eQLZmHx<\/a><\/p>\n

\u2014 Lark Davis (@TheCryptoLark) February 14, 2024<\/a><\/p>\n<\/blockquote>\n

An intriguing data insight shows that the spot BTC ETF holdings have now collectively surpassed the more than 190,000 BTC <\/span>accumulated by MicroStrategy<\/span><\/a> since the business intelligence and software firm started acquiring Bitcoin since August 2020.\u00a0<\/span><\/p>\n

<\/p>\n

The data presented by Lark Davies shows the highest inflow came in on February 9 with BlackRock\u2019s IBIT and Fidelity Investment\u2019s FBTC taking the lion\u2019s share of the total accumulated Bitcoin. The data also depicts how there has been a steady rise in the respective allocation per Bitcoin under management by each of the spot Bitcoin ETF issuers.<\/span><\/p>\n

Though not depicted by the charts, BkackRock\u2019s IBIT now has more than $5 billion in AUM with Fidelity and Ark 21Shares\u2019 ARKK making the top three spot Bitcoin ETFs to <\/span>cross the $1 billion milestone<\/span><\/a>. The traction has further complimented the growth of the entire ETF, underscoring the impact of the marketing war that ensued earlier on when the products were approved.<\/span><\/p>\n

Impact on Bitcoin Price<\/strong><\/h2>\n

The growth and the sentiment surrounding the spot Bitcoin ETF market are impacting the price of BTC in a positive way. After thrilling the broader industry with a break above $50,300, the first price level in 3 years, the coin has now soared toward the $52,000 price mark.<\/span><\/p>\n

<\/p>\n

At the time of writing, Bitcoin price is changing hands for $51,808.65 as its 24-hour growth has cooled down to 6.18%, sending the market capitalization to $1,017,307,814,467. Bitcoin has retained its luster with many analysts forecasting as high as a $200,000 price mark before the halving event later in the second quarter.<\/span><\/p>\n

The Bitcoin resurgence has also <\/span>triggered a similar run<\/span><\/a> in the altcoin world underscoring the universality of the current bull market.<\/span><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

\n

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"Understanding<\/div>\n
Understanding the Decline in US Inflation: Key Factors Explained <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"US<\/div>\n
US Inflation Drop: What\u2019s Happening? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"XRP<\/div>\n
XRP Vs Cardano : Which coin will recover soon? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The spot Bitcoin ETF market is seeing impressive traction with the total value locked has now surpassed 216,309 BTC from 9 active issuers. Spot Bitcoin ETF Milestones Since the spot BTC ETF products have been greenlighted by the United States Securities and Exchange Commission (SEC), there has been a consistent inflow into the market as […]<\/p>\n","protected":false},"author":2,"featured_media":246478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-247409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=247409"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247409\/revisions"}],"predecessor-version":[{"id":247411,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247409\/revisions\/247411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/246478"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=247409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=247409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=247409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}