CandleFocus Bitcoin ETFs Will Soon Hold 1M Tokens, Nearly as Much as Satoshi
2024-10-24
Author: Content Editor
Spot bitcoin exchange-traded funds (ETFs) are set to hold over one million BTC, as they experienced a significant increase in inflows last week, taking in over $2.1 billion in five days. The U.S. spot bitcoin ETFs, which have been operating for only ten months, currently hold around 967,459 tokens and are expected to cross the one million mark in the coming weeks. BlackRock's iShares Bitcoin Trust (IBIT) holds 396,922 BTC, ranking third in terms of holdings. The renewed interest in ETFs is likely due to the recent rally in bitcoin, which is trading close to a three-month high.
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