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Institutional Bitcoin Holdings Surge to 31%: ETFs, Governments, MicroStrategy Lead the Charge
A recent report suggests that institutional investors now account for a staggering 31% of all known Bitcoin (BTC) holders. This significant surge has been fueled by an influx of investment from spot exchange-traded funds (ETFs), government acquisitions, and private companies such as MicroStrategy.
According to statistics shared by CryptoQuant CEO Ki Young Ju, the majority of known BTC holdings are currently in the hands of miners and crypto exchanges. However, institutional investors have made a notable shift towards the cryptocurrency market, resulting in this substantial increase in their share of overall ownership.
Spot Bitcoin ETFs have been instrumental in driving this growth, with billions of dollars pouring in from traditional financial institutions. Specifically, BlackRock’s iShares has seen an astonishing $1.4 billion in net weekly inflows as of mid-December. The collective data reveals that the sector accounts for more than 1.3 million BTC and is valued at a whopping $124.89 billion.
MicroStrategy, a private company based in Virginia, USA, has also played a significant role in this surge. The organization’s treasury now controls nearly 2.45% of the cryptocurrency’s circulating supply, with an estimated value of $49.36 billion.
Source: cryptopotato.com
