Date: Monday, July 15, 2024, 07:15 AM GMT
In a big shift in the cryptocurrency market, two U.S. spot Bitcoin exchange-traded funds (ETFs) have overtaken MicroStrategy as the largest corporate holders of Bitcoin $BTC . This shift marks a significant milestone since the launch of these ETFs just six months ago.
BlackRock's IBIT has emerged as the most popular U.S. spot Bitcoin ETF. According to data from Coinglass, IBIT now holds 316,284 $BTC, valued at approximately $18.3 billion at current prices.
Source: CoinGlass
Another ETF making substantial gains is Grayscale's GBTC. Despite initial resistance due to its high management fees, GBTC now holds 272,666 $BTC, also worth around $18.3 billion. Its popularity has surged among institutional investors in recent months.
These holdings surpass those of MicroStrategy, the previous leader in corporate Bitcoin holdings. Michael Saylor's company, which recently acquired more Bitcoin through senior notes, now holds 226,331 $BTC.
Source: bitcointreasuries
This shift highlights the growing institutional interest in Bitcoin ETFs, reshaping the landscape of corporate Bitcoin holdings.
