Sokipiriye Dokubo
Fidelity’s Spot Bitcoin ETF has achieved a remarkable milestone, now holding over $10 billion worth of BTC. This achievement comes just three months after receiving approval from the US Securities and Exchange Commission (SEC), highlighting the success of the investment product.
Collectively, the Newborn Nine, a group of approved Spot Bitcoin ETFs, now manages assets totaling more than 520,000 BTC. The simultaneous approval of these investment products underscores their rapid ascent to success in the market.
The integration of #realworldassets #onchain is making them more productive, signaling a significant shift in the financial sector.
Moreover, the digital asset market has gained considerable traction since the beginning of the year, largely driven by optimism surrounding the approval of Spot Bitcoin ETFs in January. This momentum has fueled anticipation for the potential impact of these products on the cryptocurrency sector.
In just three months of trading, Fidelity’s Spot Bitcoin ETF has proven immensely successful, with holdings surpassing $10 billion in BTC. This achievement is particularly notable given the short timeframe.
According to recent disclosures, Fidelity’s ETF holds a total of 150,563 BTC, equivalent to $10.1 billion. Other successful Spot Bitcoin ETFs include BlackRock’s IBIT, managing 263,937 BTC valued at $18.5 billion, and Ark Invest 21Shares with over 43,000 BTC.
When combined, US Spot Bitcoin ETFs hold more than 842,000 BTC, representing approximately 4% of the total 21 million Bitcoin supply.
The upcoming Bitcoin Halving Event, scheduled for April 19th, is expected to further impact the market dynamics, potentially driving up the value of Bitcoin significantly.