Reports from financial institutions and ETF providers

Bitcoin ETFs Hold Over 1 Million Tokens; WisdomTree Registers XRP Fund Amid Rising Interest

Dec 2, 2024, 02:35 AM

Bitcoin exchange-traded funds (ETFs) have achieved significant success in the United States, now holding over 1 million bitcoins, which represents about 5% of the total existing supply. The number of companies holding Bitcoin ETFs has expanded to over 1,200, including U.S. pension funds and Canadian banks, which have built up millions in U.S. Bitcoin ETF holdings. Institutional interest in the cryptocurrency market continues to grow as asset managers expand beyond Bitcoin and Ethereum ETFs. WisdomTree has registered the 'WisdomTree XRP Fund' in Delaware, taking steps toward launching an XRP ETF. XRP, now the third-largest crypto asset by market cap, has also seen filings for spot ETFs by Bitwise, Canary, and 21Shares, with expectations that additional issuers will enter the market.