- U.S. Bitcoin ETFs Outperform Mining Provide to Earn 17,941 BTC in September 2024.
- BlackRock's iShares ETF has seen large development, accumulating 366,451 BTC by September 2024.
- Grayscale's ETF holdings fell to 221,191 BTC, signaling investor reallocation.
US Bitcoin ETFs obtained extra Bitcoin than miners produced in September 2024. Information from HODL15Capital reveals that ETFs collectively obtained 17,941 BTC, whereas miners solely mined 13,500 BTC in the identical interval.
This enhance in demand highlights the rising curiosity in Bitcoin ETFs, which at the moment are a serious market power. The truth that Bitcoin ETFs purchased 100% of all newly mined Bitcoins, plus extra, suggests a shift in market dynamics that would have an enduring affect on the worth and availability of Bitcoin.
Bitcoin ETFs proceed to pile up
Further knowledge from HODL15Capital signifies that by the top of September 2024, US Bitcoin ETFs collectively held 931,650 BTC, representing greater than $60.5 billion in belongings below administration (AUM). This rising demand comes at a time when spot bitcoin ETFs have gotten more and more common amongst traders in search of publicity to bitcoin with out instantly holding the asset.
Additionally Learn: Bitcoin ETF Breaks Information With $310 Million Influx In A Single Day
Notably, BlackRock's iShares Bitcoin ETF (IBIT) led the pack with a formidable enhance in holdings. Bitcoin stash IBIT grew from simply 228 BTC in January to 366,451 BTC by the top of September. This equates to AUM of $23.8 billion.
Constancy's WiseOrigin Bitcoin ETF (FBTC) additionally noticed important development, reaching 180,345 BTC by the top of the month, bringing its AUM to $11.7 billion. This development reveals a pattern amongst institutional traders who’re gravitating in the direction of ETFs as a method of gaining publicity to Bitcoin.
Whereas some ETFs have grown impressively, Grayscale's Bitcoin ETF (GBTC) has seen a decline in its holdings. In January 2024, GBTC held 619,162 BTC, however by the top of September it had fallen to 221,191 BTC. Its AUM fell to $14.4 billion. This implies that some traders are switching to different, newer ETFs, maybe in search of higher liquidity or charges.
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