The nine newly approved spot Bitcoin exchange-traded funds (ETFs) in the United States now have more than 300,000 Bitcoin (BTC)—or over $17 billion worth of the asset—under management, data from K33 Research shows. 

Data from the research firm shows that the nine fund managers collectively have 303,002 BTC under management—a new high. It also is 1.5% of the current 19.6 million BTC in circulation. At the current price of about $57,040, that collective tally comes out to about $17.3 billion worth of the leading cryptocurrency.

Note that this tally does not include the holdings of Grayscale, which converted its existing Bitcoin Trust (GBTC) launched in 2013 into a spot Bitcoin ETF once approved by the United States Securities and Exchange Commission (SEC).

According to the GBTC website, Grayscale alone holds 444,446 BTC, or about $25.3 billion worth. All combined, the spot Bitcoin ETFs new and old hold almost $43 billion worth of the cryptocurrency.

Major fund managers are quickly snapping up the virtual currency becaus

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Author: Mathew Di Salvo

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