- US Spot Bitcoin ETFs are approaching a significant milestone, holding nearly 1 million Bitcoins.
- Emory University invests US$15.8 million in a Bitcoin ETF, the first endowment to do so, completing the representation of all institutional types.
- These institutional investors represent about 20% of Bitcoin ETF ownership, with the majority still being retail holders.
The US Spot Bitcoin exchange-traded funds (ETFs) are going from strength to strength. The funds, which are now close to holding 1 million Bitcoin, have just reached another milestone.
According to Eric Balchunas, Senior ETF Analyst at Bloomberg, Emory University has disclosed a US$15.8 million (AU$24 million) investment in a Bitcoin ETF. This is the first endowment to do so and completes the representation of all institutional types in Bitcoin ETF filings.
As per Balchunas, the long list now includes endowments, banks, hedge funds, insurance companies, advisors, pension funds, private equity, holding companies, venture capital firms, trusts, family offices, and brokerages.
As reported previously, these institutional investors make up around 20% of all Spot Bitcoin ETF investors, with the majority still being retail holders.
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Balchunas compared the fund’s success and the rate of adoption to winning all four grand slams before even turning 16.
Absolutely insane feat for category less than year old, akin to winning all four tennis grand slams bf 16th bday.
Eric Balchunas, BloombergAdoption Only Beginning, Say Analysts
According to data from The Block and BiTBO, the funds are now just 25,000 Bitcoin away from holding one million, sitting at 975,186 BTC or 4.644% of total supply.
Nate Geraci from The ETF Store says that many didn’t believe the funds would pull off such enormous numbers in such a short time.
Many “prognosticators” didn’t think *all* of the spot btc ETFs would take in $2.3bil for the *entire yr*… Now over $22bil.
Nate Geraci, The ETF StoreAnd that is despite “no Vanguard access & many of the major wirehouse platforms still gated”, he added.
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Bitcoin commentator Anthony Pompliano says that corporations are just starting to realise what Bitcoin can do for them.
Speaking to Fox, Pomp highlights how Bitcoin has effectively preserved individual purchasing power, and corporations are starting to recognise its potential for them as well. The anticipation grows for when central banks will also realise this benefit, as per Pomp.
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