Just three weeks after the approval of the BTC Spot ETFs, BlackRock and Fidelity managed 100 thousand BTC, 0.5% of the offering, over 4 billion dollars to date.
Specifically, BlackRock holds a value of approximately 2.2 billion dollars while Fidelity holds approximately 2 billion dollars.
It was highlighted how the wallets of asset managers have seen an exponential growth of their BTC, at rates exceeding 100 million dollars a day.
According to asset managers, Ark Invest holds $637 million in BTC, Invesco $298 million, VanEck $128 million, Franklin Templeton $59 million and finally WisdomTree $9 million.
The impact on the market
Doing some simple calculations, it emerges that all the Spot ETFs together have come to be worth around 6.4 billion dollars, and measure 28.5% of GBTC's holdings.
As we have noted, Grayscale is selling a large number of its Bitcoins but this trend appears to be slowing down slightly.
The accumulation plan of asset managers which shows no signs of stopping, the increase in general demand, as well as market liquidity and finally the reduction in the perceived risk of investing in Bitcoin, are all factors that we must consider and which have in fact led Bitcoin to rise in recent months and, today, to bring it around 43 thousand dollars.
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