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More than 5% of Bitcoin’s circulating supply is now held in ETPs

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Quick take

According to data from the Bold Report, Bitcoin exchange-traded products (ETPs) have reached a major milestone, accumulating over 1 million BTC. This translates to an impressive assets under management (AUM) of $74 billion.

This accumulation represents more than 5% of the circulating supply of Bitcoin, or approximately 19.7 million Bitcoin. As of mid-March, these investment vehicles reached a peak of 1.1 million BTC held, with assets under management of approximately $76 billion.

BTC held by ETFs: (Source: Bold.Report)
BTC held by ETPs: (Source: Bold.Report)

The ProShares Bitcoin Strategy ETF (BITO) stands out, currently holding approximately 43,400 Bitcoins valued at $3 billion in assets under management. Remarkably, BITO has seen continued inflows every month since the introduction of spot Bitcoin ETFs in January, according to the Bold Report.

 

Teleprinter Name Jan Feb Mar Assets under management
GBTC Grayscale Bitcoin Trust -135,418 -53,392 -94,544 $23.6 billion
I BITE iShares Bitcoin Trust +61 045 +87 912 +101 094 $17.83 billion
FBTC Fidelity Wise Original Bitcoin +45 828 +52 995 +40 889 $10.24 billion
ARKB ARK 21Shares Bitcoin ETF +15 391 +18 408 +10,700 $3.16 billion
BITB Bitwise Bitcoin ETF +15,074 +9 685 +7,079 $2.242 billion
BITO ProShares Bitcoin Strategy ETF +3 305 +496 +1,678 $3.033 billion

Source: Bold.Rapport

The post More than 5% of Bitcoin’s Circulating Supply Now Held in ETPs appeared first on CryptoSlate.

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