U.S.-traded spot Bitcoin (BTC) exchange-traded funds (ETFs) held approximately 1.07 million BTC as of November 14, worth nearly $96 billion at current prices.
Bloomberg ETF analyst James Seyffart emphasized that ETFs: It may soon surpass Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has an estimated stash of 1.1 million BTC.
Moreover, Bloomberg senior ETF analyst Eric Balchunas pointed out that BlackRock’s iShares Bitcoin Trust (IBIT): It exceeded 40 billion dollars. Assets under management (AUM) ranked in the top 1% of all ETFs in 211 days.
Balchunas added that IBIT exceeded the threshold six times faster than the 1,253 days taken by the previous record holder, the iShares Core MSCI Emerging Markets ETF (IEMG).
Over $2 billion
Spot Bitcoin ETFs traded in the U.S. have seen inflows of about $2.4 billion so far this week, according to Farside Investors data.. IBIT led the way with inflows of about $1.8 billion, almost 73% of the total.
Assuming the Bitcoin ETF doesn’t experience major outflows this week, the inflows are already higher than last week’s $1.6 billion.
Recent Glassnodes report It highlighted a broader shift in investor behavior, including a preference for spot-focused exposure to Bitcoin through ETFs instead of futures contracts.
The report is based on analysis of the peak of perpetual futures market premiums on November 12, which was below March levels. This indicates that spot buying pressure is the main catalyst for Bitcoin’s current rise to new highs.
Is Vanguard jumping in?
ETF Store CEO Nate Geraci predicted that investment giant Vanguard will finally relent and begin offering spot Bitcoin and Ethereum (ETH) ETFs on its brokerage platform. company hSo far, we have been reluctant to add cryptocurrency products. state When the ETF was launched earlier this year, I don’t think it’s worth adding to your long-term portfolio.
Seyffart agreed with Geraci’s prediction and asked To estimate when the surrender will occur. Geraci responded that that would “definitely” happen next year unless BTC crashes by then, sparking a “media victory tour” instead.
On the other hand, Balkunas not sure Given the size of the investment firm, Vanguard will likely relent based on Bitcoin’s success. Nonetheless, he said Vanguard’s decision not to add cryptocurrency ETFs to its platform was a bad one.