
Spot Bitcoin ETFs have enjoyed remarkable success since they officially appeared on the crypto scene in January. These are analyzes which say so. In particular, those carried out by the crypto firm BitMEX Research. Here’s what you need to remember overall.
A rush towards Bitcoin Spot ETFs that is not slowing down…
Some analyzes of the dynamics of spot Bitcoin ETFs show that these instruments have quickly established themselves in financial markets. Since their approval last January, Bitcoin Spot ETFs have amassed a significant portion of the flagship crypto’s total supply.
In just two months of existence, spot Bitcoin ETFs have collected 776,464 bitcoins, valued at $47.7 billion. A dynamic that seems to be driving the rise of the queen of cryptos, which recently came close to $64,000 in valuation.
Generally, the observation is that institutional investors have been flocking to these ETFs since their launch. And among these investors, it is the Wall Street giants who are particularly talked about for their massive accumulation of bitcoin treasures.
The first to stand out in this dynamic is MicroStrategy, whose aggressive investments have allowed it to accumulate nearly 1% of the bitcoin supply. This, while spot Bitcoin ETFs collectively hold around 4% of the total supply of the queen of cryptos.
Even the US government has a notable stake in bitcoin. He is exposed at the flagship crypto for having seized a jackpot of 215,000 BTC, as part of various criminal cases. This represents approximately 1.1% of the supply of the largest crypto on the market in terms of capitalization.
Strengthening the legitimacy of the crypto market
It must be said that the emergence of Bitcoin Spot ETFs has had an extremely positive effect on the crypto market. Indeed, the introduction of these financial instruments gives a certain legitimacy to the crypto market which we can also observe with the current bullish cycle.
This seems essentially driven by the dynamics around Bitcoin Spot ETFs which open a regulated and transparent path to investors. This is fundamentally different from previous cycles fueled by speculative investments like ICOs.
It must be said that this transition to a more institutionalized market environment marks a significant evolution in the crypto ecosystem. This reassuring framework now actively involves categories of investors previously resistant to cryptos.
This is particularly the case for baby boomers and more generally older people who are increasingly exposed to bitcoin through these ETFs. A consequence of the greater accessibility of its financial instruments.
Some people think that if they maintain their dynamism, the positive impact on the price of bitcoin will only be greater. Currently around $62,000, the valuation of the flagship crypto could surpass its record of $69,000 much faster than we imagine.
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