Key Points
- VanEck reports that approximately $175 billion in bitcoin is held by ETFs, nations, and companies.
- Bitcoin’s popularity among institutional investors has surged, with many viewing it as a valuable asset.
According to a recent report by VanEck, an estimated $175 billion worth of Bitcoin is currently held by ETFs, nations, and both public and private companies.
Increased Institutional Interest in Bitcoin
The report also highlights a growing interest in Bitcoin among institutional investors such as hedge funds, asset management firms, and endowments. These entities are increasingly seeing Bitcoin’s potential as a store of value.
The $175 billion worth of Bitcoin held by these entities represents approximately 15% of the entire Bitcoin supply. This is based on data from CoinGecko. As of last Wednesday, Bitcoin’s total market capitalization was around $1.2 trillion. Over the past week, the price of the world’s largest cryptocurrency by market cap has dropped from over $64,000 to $57,000.
Bitcoin Adoption and Infrastructure
VanEck launched a spot Bitcoin exchange-traded fund that began trading in January. This fund currently has $600 million in assets under management.
The report also noted that an increasing number of merchants and businesses are accepting Bitcoin as a form of payment. Infrastructure has been developed to make it more convenient for the average person to use, further solidifying Bitcoin’s position as a solid investment.
