Bitcoin (BTC) exchange-traded funds (ETFs) have collectively acquired over one million BTC in less than a year since their launch, reflecting strong demand for the digital asset among investors.<\/p>\n
According to a chart<\/a> shared by crypto analyst Ali Martinez on X, the cumulative BTC holdings in Bitcoin ETFs have exceeded one million BTC within this short period.<\/p>\n To recall, after a lot of deliberation, the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs earlier this year in January. To say that Bitcoin ETFs have proven to be a resounding success won\u2019t be an overstatement.<\/p>\n Bitcoin ETFs have recorded a cumulative total net inflow of $24.15 billion to date. Martinez added that the total value of BTC held by these ETFs currently stands at approximately $70 billion.<\/p>\n From a price perspective, BTC has jumped from about $41,900 on January 8 to its current price of $68,941, marking an increase of almost 65%. During this period, BTC reached an all-time high (ATH) of $73,737 in March.<\/p>\n With over a million BTC now held in Bitcoin ETFs, roughly 5% of the total 21 million BTC supply is tied up in these financial products, reinforcing Bitcoin\u2019s scarcity narrative.<\/p>\n Notably, asset manager BlackRock\u2019s IBIT spot BTC ETF leads the market, holding approximately $30 billion net assets. Grayscale\u2019s GBTC follows with $15.22 billion, and Fidelity\u2019s FBTC ranks third with $10.47 billion in net assets.<\/p>\n The growing interest in Bitcoin ETFs is also highlighted in a recent CoinShares report<\/a>, which found that digital asset investment products attracted inflows of over $2.2 billion last week.<\/p>\n CoinShares attributed the recent surge in crypto product inflows to the possibility of a Republican victory in the upcoming US presidential election on November 5.<\/p>\n Interestingly, higher inflows were seen at the beginning of the week, while outflows emerged toward the end as Democratic candidate Kamala Harris\u2019s odds of winning improved.<\/p>\n At the time of writing, decentralized prediction markets platform Polymarket shows<\/a> Harris a 41.6% chance of winning the presidency, while Republican candidate Donald Trump remains the favorite with a 58.5% chance.<\/p>\n While voter opinion on other policies might be split more evenly, the overall consensus as far as crypto is concerned seems to be that a Trump victory may benefit<\/a> BTC and other digital assets.<\/p>\n Earlier this month, JPMorgan stated<\/a> that retail investors increasingly view BTC as a \u2018debasement trade\u2019 to protect their assets\u2019 purchasing power amid inflation and that a Trump win could provide \u2018additional upside\u2019 to BTC.<\/p>\n That said, Kamala Harris, Biden\u2019s current vice president, is reportedly<\/a> taking a fresh approach to digital assets, in contrast to the current administration\u2019s perceived cautious stance. Whether this will boost her popularity among crypto-focused voters remains to be seen.<\/p>\nTrump Win To Benefit Crypto, Experts Opine<\/h2>\n