Nate Geraci Reveals American Crypto Funds Control Over 900,000 Bitcoins
Nate Geraci, a renowned expert in cryptocurrency investments, has revealed that American crypto funds collectively hold over 900,000 bitcoins. Geraci shared data indicating that the BlackRock crypto fund under the IBIT ticker has surpassed the Grayscale investment product GBTC in terms of total market value. IBIT currently manages assets worth $21.97 billion, while GBTC funds reach around $18.29 billion.
Spot Bitcoin ETFs Attracting Growing Interest
Interest in spot Bitcoin ETFs continues to rise, with a net daily inflow of funds totaling $383.6 million in recent days. This positive trend has been ongoing for 11 consecutive trading days. The Fidelity Wise Origin Bitcoin Fund (FBTC) has attracted the largest capital volume among crypto funds, with an inflow of funds reaching $141.02 million.
Net Inflow of Funds into Cryptocurrency ETFs Reaches $17 Billion in 2024
Since the beginning of 2024, the net inflow of funds into cryptocurrency ETFs has reached $17 billion, signaling a growing interest from investors in this asset class.
Significant Accumulation of Bitcoins by Institutional and Major Private Investors
Ki Young Ju, the founder and CEO of CryptoQuant, reported that in 2024, wallets holding balances of at least 1,000 bitcoins acquired 1.45 million coins within seven months. This trend of accumulation by institutional and major private investors could have a substantial impact on the cryptocurrency market in the future.
