tl;dr
Two major banks, Bank of America’s Merrill Lynch and Wells Fargo & Co, are now reportedly offering spot Bitcoin exchange-traded funds (ETF) to their clients, coinciding with Bitcoin’s price reaching all-time highs and nine recently launched spot Bitcoin ETFs reaching all-time volume record highs. Th...
Two major banks, Bank of America’s Merrill Lynch and Wells Fargo & Co, are now reportedly offering spot Bitcoin exchange-traded funds (ETF) to their clients, coinciding with Bitcoin’s price reaching all-time highs and nine recently launched spot Bitcoin ETFs reaching all-time volume record highs. The combined 11 spot Bitcoin ETFs hold approximately 3.3% of the current Bitcoin supply, and Korea Digital Asset reported a nearly 250% increase in its crypto assets under custody in the latter half of 2023.
According to a recent Bloomberg report, the two banks are set to start offering the product amid Bitcoin’s price reaching all-time highs. This comes after BeInCrypto reported that nine of the recently launched spot Bitcoin ETFs reached all-time volume record highs. At the time of publication, Bitcoin is hovering around $61,259, showing a 19.37% increase over the last week and approximately 42% growth in the past 30 days. ETF analyst Eric Balchunas disclosed that nine of the 11 spot Bitcoin ETFs achieved a record volume this week and reported $2.4 billion in inflows within a 24-hour period. Meanwhile, Ark Invest and 21Shares recently announced the integration of Chainlink for the ARK 21Shares Bitcoin ETF (ARKB). The allocation of Bitcoin held by Bitcoin ETF providers is steadily increasing, with the combined 11 spot Bitcoin ETFs holding approximately 3.3% of the current Bitcoin supply. Korea Digital Asset (KODA) reported a nearly 250% increase in its crypto assets under custody in the latter half of 2023.
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