The post Bitcoin ETFs surge: iShares & Fidelity lead with record holdings appeared on BitcoinEthereumNews.com.

Exchange-traded funds (ETFs) have significantly increased their Bitcoin holdings, showcasing remarkable market confidence in cryptocurrency investments. Leading the charge, iShares by BlackRock (IBIT) now holds nearly 116,000 BTC, with Fidelity’s Bitcoin ETF (FBTC) not far behind, managing over 83,000 BTC. This rapid accumulation within just five weeks of Bitcoin ETF trading has dispelled doubts regarding the market demand for such financial products. ETFs embrace Bitcoin The ETF market has witnessed a historic influx into Bitcoin, with iShares by BlackRock and Fidelity’s Bitcoin ETF at the forefront. iShares’ substantial holdings highlight the growing interest from traditional financial institutions in Bitcoin as a viable investment option. This trend is further evidenced by the significant stake increases by both iShares and Fidelity, contrasting with Grayscale’s reduced Bitcoin position. The shift indicates a broader acceptance and confidence in the cryptocurrency sector among conventional investors. The enthusiasm for BTC ETFs is not just a fleeting trend but a substantial shift in investment strategies. On-chain data providers have noted a continuous flow of investments into BTC ETFs, suggesting a long-term bullish sentiment in the market. Analysts from CryptoQuant have even projected that, should the buying pressure persist, Bitcoin’s price could skyrocket to $112,000 within the year. Even conservative estimates predict a significant rise to at least $55,000, further underscoring the optimistic market outlook. Impact on Bitcoin’s price trajectory The remarkable growth in Bitcoin ETF holdings has demonstrated the funds’ success and hinted at a potential impact on Bitcoin’s price trajectory. The influx of investments into these ETFs contributes to increased buying pressure, which could drive Bitcoin’s price movements. Analysts suggest that this sustained interest could lead to new peaks in Bitcoin’s value, with projections reaching up to $112,000. The rapid accumulation of Bitcoin by ETFs like iShares by BlackRock and Fidelity’s Bitcoin ETF is a testament…

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Filed under: News - @ February 19, 2024 3:08 am