Bitcoin ETF Achieves Record 100,000 BTC Purchases in One Week
Key Takeaways
- Nine spot Bitcoin ETFs, including major players such as BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, gained a whopping 102,613 BTC in just one week.
- This aggressive buying was in sharp contrast to Grayscale’s Bitcoin ETF selling strategy, which offloaded over 80,000 BTC.
- The size of the acquisition by these ETFs is significant and accounts for more than half of MicroStrategy’s total BTC holdings.
The cryptocurrency landscape has witnessed remarkable changes, including: 9Spot Bitcoin ETFCollectively, they include industry giants BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). It raised an impressive 102,613 BTC in the first week. After launch on January 11th.
This acquisition, worth approximately $4.1 billion, This contrasts sharply with Grayscale’s approach. A Bitcoin (BTC) exchange-traded fund (ETF) has sold more than 80,000 BTC since its trading debut.
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The scale of this acquisition is highlighted by comparison to MicroStrategy. These major BTC investors In 3 years, I accumulated 189,150 BTC., ETF purchases reached 53% of total purchases in just 7 days. According to MicroStrategy, the company It took about 300 days to cross the 100,000 BTC threshold..
Leading among spot BTC ETFs, BlackRock’s IBIT and Fidelity’s FBTC were the top Bitcoin buyers., secured 37,304 BTC and 29,232 BTC respectively. Other major contributors include Bitwise Bitcoin ETF (BITB). Earned 16,451 BTC And ARK 21Shares Bitcoin ETF (ARKB) is at 10,630 BTC.
In contrast to this buying spree, Grayscale Bitcoin Trust ETF (GBTC)BTC Holdings’ largest Bitcoin ETF, Entering a selling trend, offloading 82,526 BTC. The sale brings the valuation to approximately $3 billion. It contributed to a notable decline in the price of Bitcoin..
cryptocurrency We experienced a drop of almost 20%., fell from over $48,000 on January 11 to a low of $38,700 on January 23. As of this writing, Bitcoin has recovered slightly and is trading at $40,056, up 3.5% in the last 24 hours.
This aggressive acquisition strategy by nine spot Bitcoin ETFs signals a dynamic change in the cryptocurrency investment landscape and sets a new precedent for the scale and speed of Bitcoin accumulation.
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