Breaking records in the world of cryptocurrency, a whopping $11 billion has been invested in U.S. spot Bitcoin ETFs by 937 institutions as of March 31st.
Unleashing a wealth of insight, Senior Analyst Vetle Lunde from K33 Research reveals a staggering revelation: a whopping $11.05 billion accounts for a jaw-dropping 18.7% of the entire funds managed by BTC-based products. In a striking comparison, a mere 95 firms dabbled in gold ETFs during the same period.
Breaking records in the world of investments, Morgan Stanley has joined the ranks of 937 firms by pouring a whopping $269.9 million into GBTC, securing its position as the second-largest holder of an ETF from Grayscale.
But they’re not alone in their bullish move – institutions have been jumping on the GBTC bandwagon, collectively investing a staggering $4.38 billion. And it’s not just GBTC that’s been catching the eye of big players – BlackRock’s IBIT has seen a massive $3.23 billion in investments, closely followed by Fidelity’s FBTC with a strong showing of $2.1 billion.
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The cryptocurrency world is buzzing with excitement as spot Bitcoin ETFs experience a massive influx of $303 million on May 15th. SoSoValue reports that this includes a whopping $131 million in FBTC and $86.3 million in BITB. Since their approval, these ETFs have attracted over $12 billion in inflows, with the trend only getting stronger for the third consecutive day.
Revolutionizing the investment world, Bitwise’s Chief Investment Officer Matt Hougan revealed on May 13 that institutions are flocking to Bitcoin ETFs. In fact, a staggering 563 investment companies have poured a total of $3.5 billion into these innovative funds.
Hougan draws a striking parallel between this trend and the explosive demand for gold-focused exchange-traded funds back in 2004. These gold ETFs were a smashing success, raking in over $1 billion in just five days of trading.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.