- Analyst Ali Martinez says that big Bitcoin investment funds in the US have 638,900 Bitcoins, worth about $27 billion.
- Grayscale is a big player in the cryptocurrency market, holding 566,973. 4051 BTC in the BTC ETF market.
- BlackRock has 28,622 Bitcoins, which makes them the second-biggest Bitcoin holder in the ETF industry under their iBIT initiative.
Analyst Ali Martinez has revealed the huge amount of Bitcoin that is held by big Bitcoin investment funds in the US. As of January 19th, these groups together have 638,900 bitcoins, worth about $27 billion. This big news shows that Bitcoin is becoming more and more a part of regular finance, and it’s becoming more and more important for people who want to invest in things.
Grayscale has a lot of Bitcoin ETF holdings.
Grayscale, which has the most BTC in the ETF industry, is leading the way in buying BTC. They have a lot of 566,973. 4051 This big investment makes Grayscale even more important in the cryptocurrency world. It also makes BTC ETFs the second biggest commodity ETF, ahead of Silver.
BlackRock, under the name iBIT, has become the second-largest holder of Bitcoin after Grayscale. They have 28,622 Bitcoin in their treasury. Fidelity Investments has a lot of Bitcoin, about 20,466 BTC, through its FBTC ETF. These numbers show that big banks are putting a lot of money into cryptocurrency. This means they are changing how they invest to focus more on digital money.
Market changes and the ups and downs of BTC’s price.
Even though the SEC approved BTC ETFs with a lot of Bitcoin, the expected increase in Bitcoin’s price has not happened. When the ETF for Bitcoin was approved, the price went up to $48,000 but then it went back down to around $40,000. This change shows that the market is unsteady and hard to predict, with more people selling than buying right now.
Arthur Hayes, the founder of BitMEX, thinks that the value of BTC will drop even more, which makes the market even more unpredictable. He thinks the price will go below $40,000 because he bought options to sell at $35,000 in March. Hayes is being careful with his purchase of 5 BTC, which shows that he is being cautious about the future of the cryptocurrency.
The market right now is not good for Bitcoin and experts think it might go down soon. The approval of spot BTC ETFs is a big step for cryptocurrency, but there are still challenges ahead. People who invest in crypto should stay alert because the market is always changing.
Warning: This is not advice for trading.