$13 Billion Bitcoin ETF Surge: US Institutions Lead The Charge
23 Outubro 2024 - 4:00PM
NEWSBTC
American institutions are making ripples in the cryptocurrency
market, having invested a staggering $13 billion in spot Bitcoin
ETF shares since its inception in January 2024. Many people are
surprised by this move, given that traditional financial
institutions were first hesitant to enter the world of digital
assets. Related Reading: Dogecoin Rockets 30% In A Week, Sparking
Hype For Uptober Rally According to CryptoQuant CEO Ki Young Ju,
1,179 institutions currently own a total of 193,064 BTC, indicating
a major shift in opinion towards crypto investments. Institutional
Adoption Grows The adoption of Bitcoin ETFs by the U.S. Securities
and Exchange Commission (SEC) has contributed significantly to the
spike in institutional interest. This legal approval has created
new opportunities for financial institutions to provide
cryptocurrency investments, allowing them to tap into more revenue
streams. Institutional ownership of U.S. #Bitcoin Spot ETFs is
around 20%, with asset managers holding 193K BTC (per Form 13F
filings). pic.twitter.com/9YTOEH3G5w — Ki Young Ju (@ki_young_ju)
October 22, 2024 Big Chunk Of The Pie Interestingly, big players
such as Millennium Management and Jane Street now hold over 20% of
the total market through various Bitcoin ETFs worth about 961,645
BTC. This rapid absorption immediately shows that the anxiety over
money related to digital currency was shorter-lived. Analysts think
the more the establishments engage with Bitcoin ETF, the price will
keep going. Even so, the current price of Bitcoin stands at around
$67,000 and is likely to go to $100,000 in early 2025, based on
past trends, but more importantly, how people’s thinking is
changing towards embracing Bitcoin as a legitimate asset class.
Options Trading Approved Another major turning point came when the
SEC lately approved options trading for spot Bitcoin ETFs on NYSE
American LLC and CBOE. This implies that with conventional
financial instruments, institutional investors can now effectively
reduce their Bitcoin exposure. A big change has happened for
institutional buyers since they can now trade options on these
ETFs. It not only makes Bitcoin easier to use, but it also makes it
more like regular banking. Now that options trading is possible,
experts think that more institutional buyers will get into the
Bitcoin market. Institutional investors’ ability to trade ETF
options is a turning point. Bitcoin becomes increasingly accessible
and integrated into standard banking. Now that options trading is
possible, experts expect more institutional investors to join
Bitcoin. Related Reading: Shiba Inu Soars: Analyst Predicts 71%
Rally In ‘Meme Super Cycle’ – Details A Bright Future Ahead Bitcoin
and its ETFs appear to have a promising future. Institutions’
continued engagement with this asset class is anticipated to have a
favorable impact on other digital assets. The SEC’s regulatory
system provides a layer of protection that many investors value.
This clarity may lead to increasing participation from traditional
financial institutions, thus cementing Bitcoin’s position in the
investment scene. Overall, the combination of institutional demand
and governmental support suggests that Bitcoin is more than a
passing fad; it is becoming an essential component of modern
finance. As time passes, it will be interesting to see how this
changing landscape affects both the digital currency market and
broader economic trends. Featured image from StormGain, chart from
TradingView
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