{"id":18121,"date":"2024-10-28T10:44:18","date_gmt":"2024-10-28T08:44:18","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-etf-holdings-near-1-million-coins\/"},"modified":"2024-10-28T10:44:18","modified_gmt":"2024-10-28T08:44:18","slug":"bitcoin-etf-holdings-near-1-million-coins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-etf-holdings-near-1-million-coins\/","title":{"rendered":"Bitcoin ETF Holdings Near 1 Million Coins"},"content":{"rendered":"<p>Issuers of spot Bitcoin ETFs have acquired 976,873 BTC ($66.2 billion), equivalent to nearly 5% of the available supply. This was highlighted by Nate Geraci, president of The ETF Store.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Spot bitcoin ETFs now about 23,000 away from holding 1,000,000 btc\u2026<\/p>\n<p>Or almost 5% of btc final total supply.<\/p>\n<p>via <a href=\"https:\/\/twitter.com\/apollosats?ref_src=twsrc%5Etfw\">@apollosats<\/a> <a href=\"https:\/\/t.co\/QnrOPr6vPX\">pic.twitter.com\/QnrOPr6vPX<\/a><\/p>\n<p>\u2014 Nate Geraci (@NateGeraci) <a href=\"https:\/\/twitter.com\/NateGeraci\/status\/1850692964642586916?ref_src=twsrc%5Etfw\">October 28, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To reach the seven-figure mark in the next five working days, a net inflow of approximately $314 million is required, assuming prices remain stable at the time of writing.<\/p>\n<p>Analyst Alessandro Ottaviani described the achievement of an <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> for the leading cryptocurrency as &#8220;inevitable&#8221; given the current accumulation pace of <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\">$3.13 billion<\/a> over the past two weeks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In the last two weeks we had $3B net inflow from the Bitcoin Spot ETFs.<\/p>\n<p>If this pace continues through November, ATH will be inevitabile<\/p>\n<p>\u2014 Alessandro Ottaviani (@AlexOttaBTC) <a href=\"https:\/\/twitter.com\/AlexOttaBTC\/status\/1850640694265679929?ref_src=twsrc%5Etfw\">October 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On October 25, inflows into BTC-ETFs amounted to <a href=\"https:\/\/sosovalue.xyz\/assets\/etf\/us-btc-spot\">$402.1 million<\/a>, with a total of $21.93 billion since the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">approval of the products<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1272.webp\" alt=\"1-1272\" class=\"wp-image-244014\"\/><figcaption class=\"wp-element-caption\">Data: SoSoValue.<\/figcaption><\/figure>\n<p><span data-descr=\"Chief Investment Officer\" class=\"old_tooltip\">CIO<\/span> of ZX Squared Capital, Si K. Jeng, in a conversation with <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-etfs-primed-cross-1-million-btc-mark-ahead-bullish-november?utm_source=rss_feed&#038;utm_medium=rss&#038;utm_campaign=rss_partner_inbound\">Cointelegraph<\/a>, predicted a positive trend for the asset regardless of the winner in the U.S. presidential election.  <\/p>\n<p>His colleague from Apollo Capital, Henrik Andersson, noted that the &#8220;biggest decisive factor&#8221; would be the victory of Republican candidate Donald Trump:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;If he becomes head of state [\u2026] Bitcoin will rise to $100,000 by the end of the year.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>Other drivers mentioned include the anticipated reduction of the key rate by the <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> and Russia lifting its ban on mining the leading cryptocurrency.<\/p>\n<p>Market participants in Bitcoin options have prepared for a &#8220;bullish&#8221; scenario following the U.S. presidential election and the Federal Reserve meeting by increasing <span data-descr=\"open interest\" class=\"old_tooltip\">OI<\/span> on November calls with strike prices above $80,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Issuers of spot Bitcoin ETFs have acquired 976,873 BTC ($66.2 billion), equivalent to nearly 5% of the available supply. This was highlighted by Nate Geraci, president of The ETF Store. Spot bitcoin ETFs now about 23,000 away from holding 1,000,000 btc\u2026 Or almost 5% of btc final total supply. via @apollosats pic.twitter.com\/QnrOPr6vPX \u2014 Nate Geraci [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,1145],"class_list":["post-18121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18121"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18120"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}