Michael Saylor, Chairman of MicroStrategy and a leading Bitcoin advocate, announced a major milestone for Bitcoin exchange-traded funds (ETFs).
Michael Saylor Announces Bitcoin ETFs Holding More than 1 Million BTC
According to Saylor, 34 spot Bitcoin ETFs collectively hold over one million BTC, specifically 1,031,973 BTC.
This success underscores the growing appeal of Bitcoin ETFs, which allow investors to gain access to Bitcoin without directly holding the cryptocurrency.
The fact that these ETFs have accumulated more than one million BTC marks a significant milestone in the cryptocurrency market and demonstrates strong institutional and retail investor interest.
Successful Bitcoin ETFs include those managed by financial giants BlackRock and Fidelity Investments.
These funds shift the center of gravity in the cryptocurrency market from Asia to the United States, reflecting Wall Street's increasing adoption of digital assets.
BlackRock's iShares Bitcoin Trust has become the world's largest Bitcoin fund, with assets exceeding $21.4 billion, surpassing Grayscale's $20.1 billion Bitcoin Trust.
Fidelity's Wise Origin Bitcoin Fund ranks third with assets of $12.3 billion.
Michael Saylor's own company, MicroStrategy, is notable for its aggressive Bitcoin accumulation strategy, having 214,400 BTC as of May 1, 2024.
In recent weeks, US Bitcoin ETFs have seen a surge in demand, recording net inflows for 19 consecutive days. On June 7 alone, 11 Bitcoin ETFs attracted $131 million in inflows, adding to the momentum pushing Bitcoin to new highs.
This milestone for Bitcoin ETFs highlights the growing mainstream acceptance and adoption of Bitcoin as an investment asset and signals a solid future for cryptocurrency markets.
*This is not investment advice.
