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Bitcoin Exchange-Traded Products Accumulate Over 1 Million BTC
Recent data from the Bold Report reveals a significant milestone in the realm of Bitcoin exchange-traded products (ETPs). The accumulation of over 1 million BTC within these products now amounts to an impressive $74 billion in assets under management (AUM).
Significance of the Accumulation
This accumulation represents more than 5% of Bitcoin’s circulating supply, which is approximately 19.7 million Bitcoin. In mid-March, these investment vehicles peaked at holding 1.1 million BTC with an AUM of around $76 billion.
ProShares Bitcoin Strategy ETF (BITO)
One standout player in this arena is the ProShares Bitcoin Strategy ETF (BITO), currently holding approximately 43,400 Bitcoin valued at $3 billion in AUM. Remarkably, BITO has experienced continual inflows each month since the introduction of spot Bitcoin ETFs in January, as reported by the Bold Report.
Comparison of ETP Performance
Here is a comparison of the performance of different ETPs in terms of Bitcoin holdings and AUM:
- Grayscale Bitcoin Trust (GBTC): -135,418 (Jan), -53,392 (Feb), -94,544 (Mar) – AUM: $23.6B
- iShares Bitcoin Trust (IBIT): +61,045 (Jan), +87,912 (Feb), +101,094 (Mar) – AUM: $17.83B
- Fidelity Wise Origin Bitcoin (FBTC): +45,828 (Jan), +52,995 (Feb), +40,889 (Mar) – AUM: $10.24B
- ARK 21Shares Bitcoin ETF (ARKB): +15,391 (Jan), +18,408 (Feb), +10,700 (Mar) – AUM: $3.16B
- Bitwise Bitcoin ETF (BITB): +15,074 (Jan), +9,685 (Feb), +7,079 (Mar) – AUM: $2.242B
- ProShares Bitcoin Strategy ETF (BITO): +3,305 (Jan), +496 (Feb), +1,678 (Mar) – AUM: $3.033B
Source: Bold Report
The accumulation of over 5% of Bitcoin’s circulating supply in ETPs reflects a growing trend towards institutional adoption and investment in the cryptocurrency. As this sector continues to evolve, the role of ETPs in the overall market dynamics is becoming increasingly significant.
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