• U.S. institutions now control 20% of the spot Bitcoin ETF market, investing $13 billion since the start of 2024.

  • Major asset managers, including Millennium Management and Jane Street, have collectively acquired 193,064 BTC through Bitcoin ETFs.

  • Traditional finance is increasingly accepting Bitcoin, with 1,179 institutions now holding stakes in various Bitcoin ETFs.

Institutional investors in the U.S. have invested US$13 billion in spot Bitcoin ETFs since January 2024. According to CryptoQuant CEO Ki Young Ju, the acquisition has gained continuously as reflected in filings amounting to 193,064 BTC or around 20% of the total market value. Major asset management firms are driving this trend, capitalizing on the growing demand for Bitcoin among institutional players.

https://twitter.com/ki_young_ju/status/1848689728423661875 1,179 Institutions Hold 193,064 BTC

Form 13F filings reveal that 1,179 institutions have acquired 193,064 BTC across various spot Bitcoin ETFs. These ETFs have seen robust participation from major asset managers, indicating a shift in institutional attitudes toward digital assets. It was argued that Bitcoin related products were a bubble, however, there are less voices making such claims as more and more firms invest in the cryptocurrency space. This has perhaps been accompanied by enhanced legitimacy of the financial product in the traditional financial markets due to massive institutional participation.

Key Players Include Major Asset Managers

Significant financial institutions, including Millennium Management and Jane Street, are now key players in this market. These companies combined own nearly 20% of the total $65 billion spot Bitcoin ETF market-961,645 BTC. This has been made a reality due to the provision of leading ETF issuers such as BlackRock, Bitwise, Grayscale, and Fidelity, among others. This no doubt catalyzes Bitcoin into the mainstream investment portfolio.

Institutional Interest in Bitcoin Grows

The recent increase in the rate of Big financial institutions embracing Bitcoin ETFs shows that Bitcoin is gradually being integrated into traditional finance. 

Source: Coinmarketcap

The graph shows Bitcoin’s price movement over 24 hours, fluctuating around $67,490. The price sharply declined early in the day, dropping from around $67.61K to approximately $66.7K before recovering slightly. There were multiple dips and rebounds throughout the day, with significant volatility, ultimately stabilizing around $67.49K. The market cap is at $1.33 trillion, with a 24-hour trading volume of $32.29 billion, indicating a 19.79% decrease in trading activity. 

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