US Spot Bitcoin ETFs Reach Milestone of Over 1 Million BTC
In a significant development for the cryptocurrency market, data from Dune Analytics, reported by Odaily, reveals that the total on-chain holdings of US spot Bitcoin Exchange-Traded Funds (ETFs) have recently surpassed 1 million BTC. As of now, these holdings amount to approximately 1.04 million BTC.
Current Market Impact
This massive accumulation now represents 5.26% of the total current Bitcoin supply. The on-chain holding value is estimated to be around $69.1 billion, indicating a robust interest and investment in Bitcoin through these ETFs.
Growth since Launch
Since the inception of US spot Bitcoin ETFs, the market has witnessed a net inflow of approximately 420,700 BTC. This suggests a growing confidence among institutional investors, with about 47,900 BTC flowing in just last week alone.
Conclusion
The surge in on-chain holdings of Bitcoin ETFs not only highlights the increasing acceptance of Bitcoin as an investment vehicle but also reflects broader trends in the cryptocurrency landscape, making it a critical area for observers and participants in the market to watch.
Key Takeaways:
- 1.04 million BTC held in US spot Bitcoin ETFs.
- 5.26% of total Bitcoin supply represented by ETF holdings.
- On-chain holdings valued at approximately $69.1 billion.
- Net inflow of 420,700 BTC since ETF launch.
- Recent inflow of 47,900 BTC in just one week.
For more insights on Bitcoin trends and investments, follow our recent articles on BTC forecasts and crypto market developments.
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