Wall Street is going all in on Bitcoin.
What’s happening:
- Spot Bitcoin ETFs are continuing to rapidly accumulate significant amounts of Bitcoin as more institutional capital finds its way into digital assets
- Inflows into spot Bitcoin ETFs have recently been breaking records as Bitcoin adoption continues to rise through the public markets
Why it matters:
- The historic decision from the SEC to approve spot Bitcoin ETFs to list on major stock exchanges in the United States marked a paradigm shift for the future of public markets and digital assets
By the numbers:
- Bitcoin ETFs listed on major stock exchanges in the United States now own 4% of the total supply of Bitcoin
- BlackRock’s spot Bitcoin ETF (NASDAQ: IBIT) has surpassed $10B USD in assets under management and recently saw $520M USD of capital inflow in one single trading day
Going deeper:
- BlackRock has also recently listed their spot Bitcoin ETF on the Brazilian stock exchange, as part of an effort to provide more exposure to Bitcoin ownership globally
Market reaction:
- The price of Bitcoin is up +42% in the last month
