2 of the 10 Bitcoin spot ETFs approved in the US in January hold over 200.000 BTC, valued at over $10.500 billion, in reserves today.
BlackRock, the world's largest asset manager, has a prominent role in Bitcoin ETFs. The company currently has the second largest amount of Bitcoins in reserves in its cash investment fund, followed by Fidelity Investments in third place.
According to data from the Buy Bitcoin World Wide platform, the spot ETF launched by BlackRock on Nasdaq, the iShares Bitcoin Trust (IBIT), holds 119.681 BTC in its fund reserves, currently.
The Fidelity Wise Origin Bitcoin Fund (FBTC), listed on the Cboe exchange, holds a total of 83.928 BTC in reserves.
Source: Buy Bitcoin World Wide
In total, these two Bitcoin investment funds hold 203.609 bitcoins in reserve, worth over $10.500 billion based on BTC's current market price.
IBIT and FBTC lead spot ETF inflows
The latest report on fund flows into Bitcoin ETFs, published by the firm Coinshares, highlights that ETFs provided by IBIT and FBTC are absorbing the largest inflows from Bitcoin investors.
According to these dataBoth Bitcoin spot funds saw, on average, $1.000 billion in inflows last week.
Source: Coinshares
BlackRock’s IBIT leads inflows among new Bitcoin exchange-traded funds approved in the United States last month. Fidelity Investments’ FBTC is second among new spot cryptocurrency ETFs.
A curious point is that both spot ETFs, which have been on the market for just over a month, already own more bitcoins than those accumulated microstrategy since he began investing in cryptocurrency in August 2020. According to the latest acquisitions announced by Michael Saylor’s business intelligence company, there are 190.000 BTC, valued at over $9.800 billion, in its corporate treasury.
Bitcoin hovers around $52.000
Bitcoin price continues to trend higher, gaining over 29% over the past 30 days. Data from CoinMarketCap shows that over the past month, the market-leading cryptocurrency has gained over $10.000 per unit, topping $52.100 at the time of writing.
Source: CoinMarketCap
Bitcoin's price has benefited from growing investor interest in the cryptocurrency, reflected in steady inflows into exchange-traded funds.
Since the approval of spot ETFs in the United States, Bitcoin has become a more accessible alternative investment asset for traditional investors. Even CNBC noted in January that these investment instruments offer a cheapest access route for those looking to gain exposure to the world of cryptocurrencies.
The impact of halving on the price of BTC
On the other hand, the proximity of the next Bitcoin halving, which is just a few weeks away from happening, is also raising positive prospects for the future price of Bitcoin, due to the reduction that this event will cause in the rate of creation of new bitcoins in the market.
As this media has previously explained, the halving is an event that occurs approximately every 4 years and reduces by half the block reward that Bitcoin miners receive when creating new blocks on the network.
Currently, the reward given to miners for each new block in Bitcoin is 6,25 BTC. Therefore, after the next halving, this block reward will be 3,125 BTC, approximately $162.500.
Bitcoin miners create new blocks on the blockchain approximately every 10 minutes.
Continue reading: Bitcoin's adoption curve is comparable to that of great inventions that revolutionized the world
