$BTC $ETH $BNB In January, US financial authorities allowed investment banks to begin selling a new financial product linked to bitcoin, called spot bitcoin ETFs.

Investment firms that applied to launch such ETFs in mid-February began buying bitcoins by the thousands, as everyone from hedge funds to stock market traders bet on bitcoin's price. Bought ETFs to invest while not owning a single coin.

According to K33 research, as of February 29, 933,000 coins had already been allocated or purchased and are currently held by banks for these new financial products.

Analysts at K33 believe that the most coins in this case are held by Grayscale, which started as a digital currency investment bank. The company is estimated to have around 450,000 bitcoins. Other major companies include BlackRock (150,000) and Fidelity (102,000).

Most online crypto users are celebrating the increase in their personal wealth due to the rise in value of Bitcoin through increased demand from banks, but some have criticized the concentration of power and wealth in the traditional regulated banking system. Expressed concerns. #writw2earn