The recent surge in Bitcoin exchange-traded funds (ETFs) has reached an impressive milestone. According to a survey shared by well-known cryptocurrency analyst Ali Martinez on May 31, Bitcoin ETFs in the United States have accumulated approximately $58.5 billion in just five months of trading.
The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) on January 10, followed by the commencement of trading the next day, marked a significant milestone for the cryptocurrency industry. This move propelled the market to new heights in March, signaling its continuous growth and development.
Martinez highlighted in the survey that US spot Bitcoin ETFs have acquired 857,700 BTC tokens, equivalent to $58.5 billion, in just five months. The analyst urged investors to prepare for what lies ahead.
Bitcoin ETFs are a popular choice among dynamic investors looking to diversify their portfolios while enjoying lower costs and tax advantages. ETFs are a collection of assets whose shares are traded on stock markets, offering the benefits of mutual funds, stocks, and bonds combined.
At the time of writing, the price of Bitcoin was valued at $67,628.94, representing a 1.0% decrease in the last 24 hours.
In other news, Bitcoin ETFs in the United States have achieved a new record with over 850,000 bitcoins under management. The total number of bitcoins held in custody reached an all-time high of 850,707 BTC, surpassing the previous peak of over 845,000 BTC seen in early April. This milestone reflects the increasing interest and confidence of investors in cryptocurrency-based financial products.
Among the top funds, Grayscale’s GBTC stands out as the largest single bitcoin holder, with 289,300 tokens currently valued at over $20 billion. BlackRock’s IBIT closely follows with 283,200 BTC, worth approximately $19.6 billion. These figures come from data analytics conducted by @HODL15Capital, who continuously monitor the growth and trends in the cryptocurrency ETF space.
Disclaimer: The views and opinions expressed in this article, including those of the author and anyone mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Opening of trading of Bitcoin and Ethereum ETNs in the United Kingdom; Details of Survey Revealing Reaccumulation of Long-Term Bitcoin Holders for the First Time in Five Months.
