Spot Bitcoin, which will be launched in January 2024 and opened for trading $63,645 Exchange-traded funds (ETFs) have been a bigger success than expected. The funds continue to grow rapidly, becoming some of the best-received ETFs in history.
Spot Bitcoin ETFs Are Growing Rapidly
The growth rate of ETFs is so strong that they are expected to hold more BTC than Satoshi Nakamoto by the end of the year. “ETFs will hold more BTC than Satoshi by Christmas Day,” said Spencer Hakimian, founder of Tolou Capital Management.
Major BTC Holders include Governments and Corporations
Bloomberg’s senior ETF analyst Eric Balchunas added that BlackRock’s IBIT fund is on the verge of owning more BTC than the mysterious Bitcoin inventor. The Chinese government has 194,000 BTC, the US government has 203,239 BTC, and MicroStrategy has a large Bitcoin holding of 252,220 BTC.
SEC Postpones Decision on Spot Ethereum ETF Options
The US Securities and Exchange Commission (SEC) is looking into spot Ethereum 
$2,614 Delayed decision on ETF options. While BlackRock’s IBIT fund has approved options trading, the decision on Ethereum funds has reportedly been delayed until mid-November. “The SEC’s decision on Ethereum ETF options trading will likely be announced in April 2025,” said James Seyffart, Bloomberg’s senior ETF analyst.
Spot Bitcoin ETFs, which have shown extraordinary growth, have gained an important place in the market, while large investors and institutions continue to show interest in these funds. The fact that large financial institutions such as BlackRock are increasing their BTC reserves gives positive signals for the future of the cryptocurrency market.
Grayscale’s GBTC fund continues to see net outflows decline, with only one day of net outflows in the last five trading days.
While SEC indecision and regulatory hurdles have caused delays in the approval of spot Ethereum ETFs, the future of spot Bitcoin ETFs is being closely monitored by investors.
The growth potential of spot Bitcoin ETFs offers new opportunities for both individual and institutional investors. Increasing large-scale investments could have a positive impact on Bitcoin’s market value.
The success of spot Bitcoin ETFs contributes to the wider acceptance of the cryptocurrency market and its more solid place among financial instruments.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
