US Bitcoin And Ethereum ETFs Experience Rapid Growth, Surpassing Notable Milestones
By: Eva Baxter
The burgeoning presence of Bitcoin exchange-traded funds (ETFs) in the United States has marked a significant milestone as these financial instruments now collectively hold more Bitcoin than the pseudonymous creator, Satoshi Nakamoto. This achievement underscores the rapid adoption and growing interest in Bitcoin as a viable investment vehicle within the traditional financial ecosystem.
Recent data compiled by crypto analyst Shaun Edmondson highlights the substantial holdings of prominent Bitcoin ETFs. Leading the charge is BlackRock's iShares Bitcoin Trust (IBIT), which boasts a substantial 521,375 BTC under management. Grayscale follows with its Bitcoin funds holding 251,330 BTC, while Fidelity's FBTC rounds out the top three by managing 199,246 BTC. Other notable ETFs include the Ark 21Shares, containing 48,144 BTC, and Bitwise's BITB, holding 41,062 BTC. VanEck's HODL ETF holds 13,745 BTC, with other funds managing less than 10,000 BTC each.
This momentous growth is particularly impressive considering the relatively nascent state of these ETFs. Having been operational for less than a year, they have drawn significant investor interest, witnessed by an impressive $766.66 million inflow on December 5th. Over a six-day streak, these funds accumulated more than $2.7 billion, reflecting a robust demand for Bitcoin investments.
Simultaneously, Ethereum spot ETFs are experiencing unprecedented upsurges as well. On December 5th, these ETFs recorded a historic single-day inflow of $428.44 million, marking their highest figure since their launch. This milestone outstripped the former record of $333.92 million set on November 29th. According to Nate Geraci, president of ETF Store, Ethereum spot ETFs have attracted over $1.3 billion in net inflows since their launch, highlighting a strong market demand despite existing limitations such as restricted staking options and limited access to major financial institutions. This development reaffirms the pivotal role ETFs are playing in bridging the crypto and traditional financial markets.
