Bitcoin Spot ETFs hit $10 Billion milestone just one month after approval

[headingnorth]

All the US spot bitcoin ETFs now hold a combined total of 192,000 bitcoin assets under management, recently surpassing Microstrategy's holdings of 190,000.

The difference is it took Michael Saylor two to three years to amass that amount. The Spot bitcoin ETFs did it in one month! That is crazy.
To say the spot ETF launch has been a success would be an understatement. It may  be the most successful spot ETF launch in history.

How many bitcoin do you think these funds will hold by the end of the year? Over a million? The sky is the limit.

https://cointelegraph.com/news/bitcoin-etfs-hit-10b-milestone-just-month-after-approval

[1714811009]

1714811009

[1714811009]

1714811009

[1714811009]

1714811009

[adaseb]

Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.

As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.

[cryptomaniac_xxx]

Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.

As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.

FOMO has already started when it was approved last month, and in a month's time we have felt the effect of that. This institutions have capitalize on news and rumors already. And all the signs have been pointing to a good pump before the halving. And those speculators who have predicted that we might hit $50k prior to that activity, might be actually right after all.

So "moonboys" be ready now,



https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f

We are only 10,000 blocks left until halving!!!

[franky1]

technically all ETF always had over 190,000btc

grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534

in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF

[BenCodie]

Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.

I expect a fakeout to 50k region to wipe out the shorts, then a breakdown from a mixture of events. I think Mt Gox + dramatic interest rate rises are the likely catalysts for a breakdown, wiping longs out before the bull run goes into full swing.

As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.

Is there a realtime/live graph of cumulative total inflows for all spot ETFs? It'd be good to track this metric a little more closely.

FOMO has already started when it was approved last month, and in a month's time we have felt the effect of that. This institutions have capitalize on news and rumors already. And all the signs have been pointing to a good pump before the halving. And those speculators who have predicted that we might hit $50k prior to that activity, might be actually right after all.

So "moonboys" be ready now,

I do have a feeling that the forces aiming to capitalize most from this market do need to break that FOMO in order for maximum value. Wiping all longs out now before a bull run could be extremely profitable for these forces...

https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f

We are only 10,000 blocks left until halving!!!

...damn, time goes quickly!

[franky1]

https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f

We are only 10,000 blocks left until halving!!!

2016 blocks =~ a fortnight
less than 5 fortnights (10 weeks) to go

[hatshepsut93]

Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.

[franky1]

Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.

coins locked into a ETF already made their money back..

yes they bought 190k from mostly grayscale in a month.. but even while locked into a custodian. they then sold shares. so they have their money back already. (via share sales)

[aoluain]

technically all ETF always had over 190,000btc

grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534

in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF

Do you recon that was money which was vouched from day 1 of the ETF applications
and as soon as they went live the monies were released into the ETF's?

From here on it should be new purchases, just in time for post halving.

Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.

I would say that there are a mixed lot, like ourselves here on the forum, some will sell
and take profits to buy back at a later stage, others will HODL with a long term view
and others might do a mix of both, sell some and HODL some.

Thats maybe not how it works at all.

[franky1]

technically all ETF always had over 190,000btc

grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534

in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF

Do you recon that was money which was vouched from day 1 of the ETF applications

id say $2billion were of grayscale (owned by DCG) baskets, where DCG sold its positions to get cash out(civil costs and court order fines and debt payoffs)
where by other AP bought the sudden influx of coin on coinbase prime OTC to then put into other ETF
id say $6b was AP's already invested in grayscale when it was a closed trust, finally escaping, and then trading it back into other ETF
id say $2b was probably new AP signing upto grayscale to buy other shares unallocated and then exiting grayscale to go to other ETF

AP's entering blackrock were on a transfer of $100m a day on average, although friday seen them bring in $200m of coin

so id say, yes there was probably some back-yard chats and deals done between grayscale and other AP's wanting to exit but were told to only leave in queue order or to a daily basket limit amount per day

[Asiska02]

This is a very large number of bitcoin holdings going for the spot bitcoin ETF and we should expect a big change from the market in the soonest before the bull run or probably after it. Owning such a large number of bitcoin by a centralized entity signifies a very big impact in the market when they want to move the market in their favor.

For now, I expect to continue seeing more and more buying until the current ATH is exceeded, we could get a new ATH by next year but i expect a fall in the price when these investors want to take profit from their investment through the spot ETF. It is very important to be cautious until the massive sell off from these investors looking to make profit at when due immediately.

[GreatArkansas]

The difference is it took Michael Saylor two to three years to amass that amount. The Spot bitcoin ETFs did it in one month! That is crazy.
To say the spot ETF launch has been a success would be an understatement. It may  be the most successful spot ETF launch in history.

I most admire Michael Saylor as this guy experienced the ups and downs of Bitcoin multiple times but they still keep buying Bitcoin, a real definition of diamond hands.
These numbers are not a joke already. Also, this is one of the many reasons I am not afraid to buy and hold Bitcoin.

[Zaguru12]

This is a very large number of bitcoin holdings going for the spot bitcoin ETF and we should expect a big change from the market in the soonest before the bull run or probably after it. Owning such a large number of bitcoin by a centralized entity signifies a very big impact in the market when they want to move the market in their favor.

Some of these bitcoins were probably been bought before the ETF approval example those sold off by Garyscale but still this institutions are gradually buying this bitcoins which to me will definitely stop or drastically reduce as the time goes on because I feel this is just a FOMO period for even them. After they got the approval People thought they could have impact on the bitcoin most likely a huge price surge but it didn’t happen because it wouldn’t be manipulated.

I most admire Michael Saylor as this guy experienced the ups and downs of Bitcoin multiple times but they still keep buying Bitcoin, a real definition of diamond hands.
These numbers are not a joke already. Also, this is one of the many reasons I am not afraid to buy and hold Bitcoin.

Seriously Microstrategy has been doing well in accumulating bitcoin, last year or year before they borrowed some funds to actually use to buy an later in the middle of last year they sold some partials  and then settle the loan amount which is a great strategy. This is not an investment advice to borrow money and invest in bitcoin because it is a bad idea but it is to show that if large investors like this can risk it then we should also give it a try and invest for longer time

[Darker45]

There were those who thought that the hype around spot Bitcoin ETF will not be translated into a huge demand upon approval. They were wrong. And then there were those who thought that the hype of the approval and its accompanying high volume will not stay around for long. They were wrong again. It seems the hype is somehow sustained. It's been a month already and it's been running strong. I think this itself is a huge boost, will encourage those who haven't jumped in yet, those who are observing from the sidelines, to finally join.

However, I still hope that many of those who are spot ETF investors would one day get hold of real Bitcoin and keep them under their own full control.

[thecodebear]

Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.

These "professional investors" would be pretty bad at investing if they sold everything before it even hit the ATH lol. If they know anything at all about Bitcoin they will be selling MUCH higher than the ATH.

[Tyke]

It will be covered in the Bitcoin history book 

[arabspaceship123]

We knew it's going to happen because cryptos where money's found. We don't know future numbers but 1M's big so if they hold combined 1M by end of the year it'll be a big status for companies involved. It's going to test their patience when the first dump happens how many from the 192k bitcoin's going to be sold in panic?

All the US spot bitcoin ETFs now hold a combined total of 192,000 bitcoin assets under management, recently surpassing Microstrategy's holdings of 190,000.

[Poker Player]

Well, on the one hand it seems to have happened what most expected, that Bitcoin spot ETFs have increased demand driving the price up. But this is a double-edged sword that just as it can make it go up it can make it go down. It also pushes Bitcoin even further away from the initial idea of P2P.

However, I still hope that many of those who are spot ETF investors would one day get hold of real Bitcoin and keep them under their own full control.

That's not going to happen, at least for a significant percentage of spot ETF investors.

[DapanasFruit]

Seems to me that the positive effect of BTC-ETF is now starting to trek in after its "gloomy" effect on BTC overall in the first week. With this kind of excitement, am sure that there will be more people and organizations taking a dip into the business of ETF...indirectly impacting the price of Bitcoin in the crypto market. I am really hoping that my cautious stance on ETF can be proven wrong since we all want what is really good for the cryptocurrency industry...an inclusive future of hope, growth, prosperity, peace and freedom.

[Natsuu]

Spot ETFs scooping up Bitcoin like crazy is impressive especially compared to Microstrategy's slower accumulation. Predicting year-end holdings is tricky because the crypto market is wild like regulations, public opinion and economic shifts can throw things off. While more growth is likely, putting an exact number on it is like trying to predict the weather in a storm