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Summary

Form 13F filings reveal that 937 US corporations were exposed to Bitcoin ETFs in Q1, contributing to Bitcoin’s surge in volumes among institutional investment products. Daily spot Bitcoin volumes exceeded $5 billion on May 16.

Introduction

Nearly 1,000 U.S. corporations have invested in Bitcoin exchange-traded funds (ETFs), boosting Bitcoin’s volume and institutional interest. Data shows a significant increase in daily spot Bitcoin volumes, reaching over $5 billion on May 16.

Main Points

According to Santiment, the seven largest U.S. spot ETFs saw a volume of $5.65 billion this week, the highest since March 24. Notably, Grayscale Bitcoin Trust had inflows of $27 million on May 16 and $4.6 million on May 17. Form 13F filings indicate that 937 US companies held Bitcoin ETF exposure in Q1, surpassing interest in gold ETFs.

QCP Capital predicts a positive trend in Bitcoin price, citing institutional investments in new U.S. ETFs. Institutions like Millennium Management LLC invested $2 billion in Bitcoin-related ETFs by March 31.

Conclusion

Bitcoin ETF investments by US corporations are on the rise, impacting Bitcoin’s trading volumes and institutional acceptance. The future price of Bitcoin is expected to benefit from the growing interest of institutions in cryptocurrency investments.

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