Less than a year after their launch, spot Bitcoin ETFs have recorded unprecedented growth, boosting investors’ interest and demand for the largest cryptocurrency.
A recent report by Binance Research, the research arm of the global cryptocurrency exchange, revealed that bitcoin ETFs have accumulated over 938,000 BTC, worth $63.3 billion. This figure represents 4.5% of the total circulating supply of bitcoin. Adding the amount held in other similar funds drives the figure to 1.1 million BTC, approximately 5.2% of the circulating supply.
Notably, a chunk of the total assets under management (AUM) in these funds had been amassed within the first few months of their launch. However, the report noted that inflows into the funds have remained steady throughout the year, indicating sustained investor interest.
Bitcoin ETFs Attract $18.9B Inflows
Spot Bitcoin ETFs have fueled demand for the crypto asset over the past few months. As a result, the funds have consistently removed an average of 1
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