Institutional Impact: Cryptocurrency ETFs and Companies Hold $175 Billion in Bitcoin
Date: 2024-05-02 Author: Gabriel Deangelo Categories: BUSINESS
Investment firm VanEck has analyzed the holdings of various companies and cryptocurrency ETFs, revealing an impressive $175 billion worth of Bitcoin ownership. The report aims to shed light on the influence of institutional investors and countries on the cryptocurrency market.
Rising Institutional Interest in Bitcoin
Experts note a significant increase in interest from hedge funds, asset managers and endowments in Bitcoin as a store of value. Today, these institutions hold more than $175 billion in the first cryptocurrency, indicating growing confidence in this asset.
The study found that cryptocurrency ETFs control $74.5 billion of Bitcoin, while international holdings are valued at $40.7 billion. Private companies hold $37.8 billion, while public companies hold $22.3 billion. This diverse ownership mix underscores the widespread interest in Bitcoin .
Capitalization and Prospects
At the time of writing, Bitcoin is trading above $57,500, and its capitalization exceeds $1.14 trillion. Institutional investors hold more than 3 million BTC, representing approximately 15% of the total supply.
Major Bitcoin holders include the US government with 212,847 BTC, BlackRock with more than 273,000 BTC, and MicroStrategy with 214,400 BTC. These organizations play a significant role in shaping the cryptocurrency market.
Further Development of Infrastructure
Since the beginning of 2024, regulators in the United States have approved the launch of spot Bitcoin ETFs, which confirms the growing interest in this asset. This opens up new prospects for investing in Bitcoin and strengthening its position as a recognized store of value.
Despite changes in the structure of Bitcoin ownership, many large holders are in no hurry to take profits, preferring to hold on to their investments. This demonstrates long-term confidence in the asset's potential.
The role of institutional investors and companies in the cryptocurrency space continues to strengthen. With growing interest in Bitcoin and the development of infrastructure, this asset is becoming increasingly attractive to various categories of investors.
