US Bitcoin ETFs Surge with 5,518 BTC Added in One Day!

Key Points:

• On July 22, nine U.S. Bitcoin ETFs collectively increased their holdings by 5,518 BTC, valued at $368.67 million.
• Fidelity added 2,099 BTC, worth about $140.23 million, boosting its total holdings to 180,689 BTC.
• Grayscale cut its Bitcoin holdings by 366 BTC, but still holds a significant 271,794 BTC.

According to Lookonchain data, July 22 saw nine U.S.-based Bitcoin ETFs surge their Bitcoin holdings massively. Specifically, the funds increased their Bitcoin holdings by a net of 5,518 BTC as part of its globally diversified holdings.

This sum amounted to approximately $368.67 million. That surge makes it clear: belief in and investment in Bitcoin will continue to rise despite fluctuations.

July 22 Update:

9 ETFs added 5,518 $BTC(+$368.67M).#Fidelity added 2,099 $BTC(+$140.23M) and currently holds 180,689 $BTC($12.07B).#Grayscale decreased 366 $BTC(-$24.46M) and currently holds 271,794 $BTC($18.16B).https://t.co/UHDL1BTWve pic.twitter.com/fGmW1YVSt9

— Lookonchain (@lookonchain) July 22, 2024

Fidelity and Grayscale Adjust Bitcoin Holdings Significantly

Fidelity registered the most significant increase through its Bitcoin ETFs surge. Thus, it increased its positions by 2,099 BTC, about $140.23 million. Fidelity’s total number of BTCs is 180,689, valued at $12.07 billion. This adds another asset to its crypto portfolio and reiterates a bullish stance on Bitcoins.

The most significant Bitcoin ETFs surge player, Grayscale, made much larger strategic reallocations, reducing 366 bitcoins, valued at around $24.46 million. While the amount reduced was huge, Grayscale retained a large amount of Bitcoin in reserves: 271,794 bitcoins, valued at $18.16 billion. Grayscale’s strategic reallocation reflects some of the bigger market themes that this move can be a part of.

Read more: Fidelity Leads Bitcoin ETF Inflow With $141 Million

Bitcoin ETFs Surges Holding Noted

This exponential rise in Bitcoin holdings by the number of ETFs displays the immense appetite for crypto investments. It proves a positive outlook towards Bitcoin’s future performance. The aggregate increase of these nine funds in holdings reflects a massive monetary commitment and represents a broader trend of institutional investors’ efforts to build up their digital assets.

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