The net assets under management of the 12 Bitcoin (BTC) exchange-traded funds (ETFs) in the United States reached $100.55 billion, representing approximately 5.4% of the digital currency’s market capitalization.
According to data from SosoValue, the iShares Bitcoin Trust (IBIT) BlackRock has $45.4 billion in net assetswhile the Grayscale Bitcoin Trust (GBTC) exceeded $20.6 billion. These are the largest bitcoin spot ETFs on the market.
One step below stands out the Fidelity Wise Origin Bitcoin Fund (FBTC) from the Fidelity firm, whose value is $18.44 billion in net assets. Further back, the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB) funds appear with $4.69 billion and $4 billion, respectively.
Likewise, it is worth noting that on the last day the 12 ETFs bitcoin accumulated net inflows of more than 773 million dollars. Since its market launch in January 2024, they have recorded revenues of more than $29 billion.
Entries and exits in bitcoin ETFs since their launch on the market. Fountain: SosoValue.
The good performance of the ETFs yesterday, Wednesday, November 20, had a direct impact on the price of the coin created by Satoshi Nakamotowhich is 3% of exceeding the $100,000 barrier. At the time of publication of this note, its price is $97,691.
Bitcoin price from January to November 21, 2024. Source: TradingView.
As CriptoNoticias has explained, due to its operation spot ETFs They are backed by an underlying asset and require the companies that manage them to acquire and hold BTC in their treasuries.
If they perform well, firms should go to the market to buy more bitcoin. This generates greater demand and reduces the available amount of BTC, which puts upward pressure on its price due to limited supply.
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