Institutional adoption of Bitcoin increases as ETFs hold one million BTC, showing positive market impact.

From Investing.com

October 24, 2024
3:30:18 pm:

ETFs are set to surpass one million BTC in holdings, reflecting significant institutional adoption of Bitcoin. BlackRock’s spot Bitcoin ETF leads with nearly 400,000 BTC. These holdings are on track to exceed Satoshi Nakamoto’s 11.1 million BTC. Institutional acceptance of Bitcoin as a legitimate asset is clear, with ETFs playing a major role in market circulation.

Despite recent market volatility, Bitcoin’s liquidation heatmap shows strong upside potential, indicating robust demand for the cryptocurrency. If ETFs continue to accumulate, the price of Bitcoin could rise further. The influx of institutional investors into Bitcoin may lead to scarcity and price increases as supply diminishes.

Read more at Investing.com: 1 Million Bitcoin (BTC) ETF Milestone: 97% Complete By U.Today