The holdings in ETF Bitcoin in the United States (USA) have reached a new record, surpassing 850,000 tokens.
Grayscale’s GBTC continues to be the largest fund, with over 20 billion dollars in bitcoin at current prices, while BlackRock’s IBIT follows closely. Let’s see all the details below.
Over 850,000 Bitcoin tokens in ETF: a significant milestone for the USA market
As anticipated, the exchange-traded fund spot of Bitcoin listed in the United States now hold a record of 850,707 BTC. Thus surpassing the previous high of over 845,000 since the beginning of April.
Among these funds, the GBTC of Grayscale is the largest holder with 289,300 tokens worth over 20 billion dollars. Closely followed by the IBIT of BlackRock with 283,200 BTC worth 19.6 billion dollars, according to data tracked by @HODL15Capital.
Wednesday, gli ETF spot hanno segnato l’ottavo giorno consecutivo di afflussi netti, accumulando oltre 24,500 BTC in questo periodo.
This represents a significant trend reversal compared to the previous weeks. That is when some of the largest ETFs recorded zero inflows or even net outflows on certain days.
The industry of criptovalute achieved a major political victory in the United States on Wednesday.
That is when the House of Representatives approved a wide-ranging bill to regulate the digital asset markets, with a vote of 279-136 that saw Democrats crossing party lines to support it.
The Financial Innovation and Technology for the 21st Century Act (FIT21) marks the first time that a major cryptocurrency bill has been passed by one of the chambers of Congress.
In the meantime, the bull widely predict that a spot ETF on Ether will be approved this week in the United States.
That following a cambiamento sudden in policy that has led some analysts to increase the probability of approval to over 75% from the previous 25%.
WisdomTree obtains FCA approval to list ETP on Bitcoin and Ethereum on the London Stock Exchange
WisdomTree, a global financial company based in New York, has recently obtained an important approval from the Financial Conduct Authority (FCA) of the United Kingdom to list its non-leveraged exchange-traded product (ETP) on Bitcoin and Ethereum on the London Stock Exchange (LSE).
Questo passo significativo consente agli investitori istituzionali di accedere a strumenti finanziari regolamentati per investire in criptovalute. Migliorando così la credibilità e l’accessibilità degli investimenti in criptovalute nel mercato britannico.
The approval of the FCA represents a significant progress for institutional investors interested in diversified investment opportunities in the cryptocurrency sector.
Thanks to the trading of these ETPs on the LSE, WisdomTree offers a regulated way to gain exposure to the main cryptocurrencies.
However, as observed by the ETF analyst Eric Balchunas, these products will not be available for retail investors. Thus reducing the immediate impact on the market but highlighting the focus on institutional adoption.
At the beginning of the year, the Securities and Exchange Commission (SEC) of the United States approved several exchange-traded funds (ETF) of Bitcoin based on spot. This significantly increased market interest and pushed Bitcoin prices to new highs.
In Europe, on the other hand, ETPs, including those from WisdomTree, have been available since 2019 and cover a wide range of cryptocurrencies.
The main regulatory difference is that European ETPs cannot offer a single commodity and use a structure that provides exposure similar to holding the underlying cryptocurrency.
Wider market implications
Michael Delew, head of capital markets at WisdomTree, emphasizes that the main difference between European ETPs and US ETFs on Bitcoin lies in the legal structure.
European ETPs cannot accept the underlying cryptocurrency in-kind and instead rely on cash orders.
This normative difference affects the operational aspects of these investment products. However, it does not diminish their attractiveness to institutional investors seeking regulated exposure to cryptocurrencies.
The introduction of WisdomTree’s cryptocurrency ETPs on the LSE is part of a broader trend of increasing institutional acceptance and integration of digital assets into traditional financial markets.
Other companies, such as CoinShares, 21Shares, and ETC Group, have also applied to list their cryptocurrency ETPs on the LSE, indicating a growing demand for regulated cryptocurrency investment products.
It is expected that this trend will continue, driven by the evolution of the regulatory landscape and the growing recognition of cryptocurrencies as a legitimate asset class.