Bitcoin Leads the Way While Ethereum Needs to Close the Gap: The Emerging Crypto Treasury Strategy on Wall Street
Bitcoin's Dominance: Bitcoin (BTC) remains the leading asset in treasury allocations, with major companies like Strategy holding over $69 billion in reserves, while significant mining firms also accumulate large amounts of BTC.
Emergence of Ethereum: Ethereum (ETH) is gaining traction as a reserve asset, with companies like BitMine Immersion Technologies becoming the largest Ethereum treasury firm, holding over $7.50 billion in ETH.
Corporate Holdings: Public companies collectively hold approximately 1 million BTC valued at $110.25 billion and nearly 3 million ETH worth $13.22 billion, representing 4.77% and 2.7% of their respective total supplies.
Market Performance: As of the latest data, Bitcoin is trading at $110,152 and Ethereum at $4,433, both experiencing declines in value, while stocks related to these treasury firms have shown mixed performance.
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US Bitcoin Spot ETF Experienced a Net Outflow of $147.4 Million Yesterday, While Ethereum Had a Net Outflow of $64.6 Million
US Bitcoin ETF Net Outflow: The net outflow of the US Bitcoin spot ETF was reported at $147.4 million, with significant contributions from BlackRock and Fidelity.
BlackRock and Fidelity Contributions: BlackRock's Bitcoin ETF saw an outflow of $102.8 million, while Fidelity's Bitcoin ETF experienced an outflow of $44.6 million.
US Ethereum ETF Net Outflow: The net outflow for the US Ethereum spot ETF was $64.6 million, with BlackRock and Grayscale being the main contributors.
BlackRock and Grayscale Contributions: BlackRock's Ethereum ETF had an outflow of $59.0 million, and Grayscale's Ethereum ETF saw an outflow of $14.6 million.
Grayscale Bitcoin Trust Mini ETF Launches on Morgan Stanley Platform
Announcement of New ETF: Grayscale CEO Peter Mintzberg announced the launch of the Grayscale Bitcoin Mini Trust ETF (ticker: BTC), which is now live on the Morgan Stanley platform.
Access to Significant Assets: The ETF provides access to over $7.4 trillion in advisor-managed assets under management (AUM).