MicroStrategy CEO Michael Saylor Reveals Bitcoin ETF Holdings Surpass 1 Million BTC
In a groundbreaking announcement, MicroStrategy CEO Michael Saylor disclosed that a total of 34 spot Bitcoin exchange-traded funds (ETFs) now collectively hold more than 1 million BTC, specifically totaling 1,031,973 BTC.
This significant achievement highlights the increasing popularity of Bitcoin ETFs, providing investors with a pathway to Bitcoin investment without direct ownership of the cryptocurrency.
The milestone of over 1 million BTC in ETFs signifies a major development in the cryptocurrency market, showcasing a strong interest from institutional and retail investors alike.
Notable successes in Bitcoin ETFs include offerings from financial giants BlackRock and Fidelity Investments, signaling a shift in the cryptocurrency market’s landscape towards the United States, driven by Wall Street’s growing embrace of digital assets.
BlackRock’s iShares Bitcoin Trust has emerged as the world’s largest Bitcoin fund, with assets surpassing $21.4 billion, overtaking Grayscale’s $20.1 billion Bitcoin Trust.
Fidelity’s Wise Origin Bitcoin Fund also ranks high, boasting assets of $12.3 billion.
MicroStrategy, under the leadership of Michael Saylor, stands out for its aggressive Bitcoin accumulation strategy, holding 214,400 BTC as of May 1, 2024.
Recent weeks have seen a surge in demand for US Bitcoin ETFs, with 19 consecutive days of net inflows recorded. On June 7 alone, 11 Bitcoin ETFs attracted $131 million in inflows, contributing to the upward momentum propelling Bitcoin to new price highs.
This milestone in Bitcoin ETFs underlines the increasing mainstream acceptance and adoption of Bitcoin as an investment asset, signaling a promising future for cryptocurrency markets.
*Please note that this is not investment advice.
For access to over 300 cryptocurrencies, you can sign up on Binance exchange with a 20% COMMISSION DISCOUNT using this link!
Follow our Telegram and Twitter accounts for exclusive news, analytics, and on-chain data!
