Less than a year after launching, Bitcoin ETFs in the U.S. have already amassed over 1.1 million BTC between them—more than was mined by Bitcoin's creator.
Bitcoin ETFs have been a smashing success in the United States since the spot funds launched back in January. How big of a success? Collectively, the funds hold more than 1.1 million BTC—even more than is believed to have been mined and held by pseudonymous Bitcoin creator, Satoshi Nakamoto.
That’s a “mind-blowing” milestone for products that started trading less than a year ago, said Bloomberg ETF analyst Eric Balchunas. The funds have gradually amassed more and more Bitcoin as investor demand grows, and that tally is worth more than $110 billion. And the hot start isn’t just impressive for crypto-related funds, but for ETFs of all sorts, Balchunas told Decrypt this week.
“There has never been a launch like this,” he said, “and there will never be another one.”
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