Crypto ETFs Purchase More Than 95,297 Bitcoins: Report

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According to a recent report by CoinShares, as of January 11, 2024, spot cryptocurrency exchange-traded funds (ETFs) have acquired more than 95,297 Bitcoin.

Among these, prominent funds managed by BlackRock and Fidelity hold 33,706 BTC and 30,384 BTC respectively.

Bitwise (BITB) owns 10,235 BTC and another 9,134 BTC have been transferred to the ARKB fund under the management of Ark Invest.

The Grayscale Bitcoin Trust, now converted into a spot ETF, holds a substantial amount of 552,077 BTC.

CoinShares also highlighted that crypto funds in the global market have been able to attract $1.14 billion in investments from January to December 2023.

However, the launch of spot ETFs in the US earlier this year did not have a significant impact on the price of Bitcoin. In fact, last week, $21 million was withdrawn from crypto funds, while the trading volume for BTC alone reached $11.8 billion.

Interestingly, there have been significant outflows from funds investing in Ethereum and Solana (SOL), with over $14 million and $8.5 million being withdrawn respectively.