Constancy has been quietly accumulating Bitcoin throughout the final week, procuring bigger than 5,000 BTC, in accordance to files from Arkham Intelligence. This strategic acquisition brings the Constancy substitute-traded fund (FBTC)’s entire Bitcoin holdings to over 176,000 BTC.
Constancy has been trying to in discovering Bitcoin actual for the past 2 weeks.
What about you? pic.twitter.com/ho2dMyDkzJ
— Arkham (@ArkhamIntel) September 20, 2024
In step with files from the Bitbo Treasuries Tracker, these holdings are valued at roughly $11 billion at most up-to-date market prices.
With Bitcoin trading around $62,600, Constancy now controls virtually 1% of the entire Bitcoin in circulation, solidifying its achieve as a critical institutional player in the crypto market. The firm’s aggressive accumulation highlights persevered self belief in the asset, following the Fed price cut back this past Wednesday.
Constancy’s aquire comes as part of a broader trend among institutional traders rising their Bitcoin exposure, reinforcing the rising institutional assign a matter to for BTC.
Within the identical vein, MicroStrategy has moreover been actively expanding its Bitcoin holdings throughout the final two weeks. The firm presently obtained 7,420 BTC, bringing its entire to roughly 252,220 BTC, valued at $15 billion.
