Strong Institutional Demand for Regulated Bitcoin Exposure Revealed by Glassnode

According to Odaily, on-chain analysis firm Glassnode has disclosed data indicating a robust demand for regulated Bitcoin exposure among institutions. The total market value of assets under management for U.S. spot ETFs now stands at $58 billion, representing approximately 4.6% of the circulating Bitcoin supply. BlackRock, Fidelity, and Grayscale are the largest spot Bitcoin ETFs in the United States. If the Bitcoin held in these ETFs is marked to estimate their average acquisition cost, the cost basis for these ETFs ranges between $54,900 and $59,100.