MicroStrategy CEO Michael Saylor Reveals the Extent of Bitcoin ETF Holdings by Companies! Here’s the Breakdown
Michael Saylor, the Chairman of MicroStrategy and a prominent advocate for Bitcoin, recently made a significant announcement regarding Bitcoin exchange-traded funds (ETFs).
Saylor disclosed that a total of 34 spot Bitcoin ETFs now collectively hold more than one million BTC, specifically amounting to 1,031,973 BTC.
This milestone highlights the increasing popularity of Bitcoin ETFs, providing investors with a means to invest in Bitcoin without directly owning the cryptocurrency.
The accumulation of over one million BTC by these ETFs marks a major achievement in the cryptocurrency market, showcasing the strong interest from both institutional and retail investors.
Leading Bitcoin ETFs managed by financial giants such as BlackRock and Fidelity Investments have played a key role in this success, shifting the focus of the cryptocurrency market from Asia to the United States as Wall Street embraces digital assets.
BlackRock’s iShares Bitcoin Trust has emerged as the world’s largest Bitcoin fund, boasting assets exceeding $21.4 billion, surpassing Grayscale’s $20.1 billion Bitcoin Trust.
Fidelity’s Wise Origin Bitcoin Fund ranks third with assets totaling $12.3 billion.
MicroStrategy, under Michael Saylor’s leadership, is renowned for its aggressive Bitcoin accumulation strategy, with a notable holding of 214,400 BTC as of May 1, 2024.
In recent weeks, US Bitcoin ETFs have witnessed a surge in demand, experiencing net inflows for 19 consecutive days. On June 7 alone, 11 Bitcoin ETFs attracted $131 million in inflows, contributing to the positive momentum driving Bitcoin to new record highs.
This achievement for Bitcoin ETFs underscores the increasing mainstream acceptance and adoption of Bitcoin as a viable investment asset, indicating a promising future for the cryptocurrency market.
*Please note that this article does not constitute investment advice.
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