Fun

$13 Billion Bitcoin ETF Surge: US Institutions Lead The Charge

News Feed - 2024-10-24 04:10:25

Este artículo también está disponible en español.


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 18 hours ago


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. BTCUSD trading at $66,504 on the daily chart:TradingView.com 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. Bitcoin price action in the last 24 hours. Source: CoinMarketCap


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 1 day ago 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

News Feed

Why Buying Bitcoin Now Is Better Than Later As BTC Price Consolidates Within Falling Wedge
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Solana Bulls Eye $260 As Key Support Holds, Says Crypto Analyst
Este artículo también está disponible en español. In a recent chart update published on February 14, 2025, crypto analyst Ali Martinez (@ali_charts) highlighted Solana’
Is Trump right to worry that China could ‘take over’ crypto?
Andrew Singer11 hours agoIs Trump right to worry that China could ‘take over’ crypto?Does China regret banning Bitcoin mining in 2021? Could it opt back in? Can a single nation even control decentralized assets like
China’s Research Institute Updates Crypto Ranking — Review Affected by Pandemic
China"s Research Institute Updates Crypto Ranking — Review Affected by PandemicChina’s Center for Information and Industry Development has published its latest crypto projec
SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’
SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’ On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF),
Failed FTX Rescue Attempt Revealed, Putin Calls for Digital Currency Settlements — Week in Review
Failed FTX Rescue Attempt Revealed, Putin Calls for Digital Currency Settlements — Week in Review Shark Tank star Kevin O’Leary has revealed his and Sam Bankman-Fried’
NFT Sales Soar 138% in Past Week, Blur Market Dominates This Week’s ETH-Based NFT Sales
NFT Sales Soar 138% in Past Week, Blur Market Dominates This Week"s ETH-Based NFT Sales Non-fungible token (NFT) sales have soared this past week, climbing 138.15% higher than the
Infinity8.io and Sacha Jafri Make NFT History at amFAR 2021
Infinity8.io and Sacha Jafri Make NFT History at amFAR 2021 sponsored As cameras flashed at tonight’s 27th amFAR gala at the Cannes film festival in the sou
New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales
New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie
Game Space: One of the First GaaS “GameFi as a Service” Platform
Game Space: One of the First GaaS “GameFi as a Service"" Platform sponsored On April 22nd Michael Cameron the CEO and Co-founder of Game Space announced that it has released one o
Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading?
Este artículo también está disponible en español. Reports showed that Bitcoin price slightly dipped in the last 24 hours but continues to hang on the $69,000 level after
Report: Ghanaian Currency Slips to Another Low Versus the US Dollar
Report: Ghanaian Currency Slips to Another Low Versus the US Dollar After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new lo