JAKARTA - Bitcoin crypto asset (BTC) is now making a new history. Bitcoin Exchange-Trad Products (ETP) have amassed more than 8% of all outstanding Bitcoin tokens, an achievement that marks a new era for this digital asset. With the launch of ETF BlackRock on Nasdaq, Bitcoin further strengthens its position in the world of institutional investment.
Bitcoin Market Transformation: ETP And ETF
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Mass Accumulation by Major Investors
Recent data released by CCN shows that institutional investors are racing to accumulate Bitcoin. The US BTC spot ETF has become a major contributor with an average collection of 6,200 BTC per day. Combined with 21 other Bitcoin ETPs, the total reaches more than 1 million BTC tokens, meaning nearly one in every 12 available Bitcoins is now under institutional control.
The analysis shows that demand for Bitcoin ETF is up tenfold compared to miners' output. This raises questions about the scarcity of Bitcoin in the future, especially after the fourth half which reduces mining rewards to 3.125 BTC per block.
The rapid growth of Bitcoin's ETF raises concerns about centralization of Bitcoin supply. Although Bitcoin is designed to be decentralized, token consolidation into the ETP shows a shift from its original philosophy. This is a critical moment in Bitcoin's history, where institutional dominance can change the crypto landscape significantly.
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