Recent developments in the Bitcoin ETF market showcase the growing control of major investment funds over the cryptocurrency supply.
U.S. Bitcoin ETFs Control
BlackRock's IBIT holds a leading position in the U.S. Bitcoin ETF market, controlling nearly half of all U.S. Bitcoin ETFs. The total assets of U.S.-based funds have reached $103.8 billion, accounting for 5.156% of the total Bitcoin supply.
Bitcoin's Market and Competitors
Currently, Bitcoin ranks as the seventh largest asset in the world. To surpass Alphabet's market value, Bitcoin needs to reach a price of $108,000 per coin.
Grayscale's New Initiatives
Following BlackRock's success, Grayscale has applied to convert its Solana Trust into a Spot ETF with the SEC, aiming to strengthen its market position.
The steady development of the Bitcoin ETF market and new initiatives play a key role in increasing investment interest and opportunities for investors.
