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A new wave of spot Bitcoin ETFs, including prominent names like BlackRock, Fidelity, and Bitwise, has swiftly surpassed MicroStrategy’s Bitcoin cache. In just 21 days, these ETFs have amassed an astonishing 216,309 Bitcoins, equivalent to approximately $10.3 billion, reflecting almost 1% of the total Bitcoin supply.
MicroStrategy, with its 190,000 Bitcoins, is now second to this new collective power. BlackRock’s ETF, in particular, boasts the largest share, with over 80,000 Bitcoins valued at $3.7 billion. This group also includes Fidelity’s FBTC and others like Valkyrie, Franklin Templeton, and Ark 21Shares, each contributing to this significant market shift.
The introduction of these funds has not only impacted Bitcoin’s ownership landscape but also its market price, causing an initial drop and subsequent increase in value. This trend signals a strengthening market presence of Bitcoin ETFs, which could play a pivotal role in Bitcoin’s price trajectory for the year.
