Ki Young Ju, a prominent cryptocurrency analyst, drew attention to the U.S. regaining its supremacy in Bitcoin (CRYPTO: BTC) holdings, with the rise attributed to spot exchange-traded funds (ETFs) demand.
What Happened: On Tuesday, Ki Young Ju took to X to highlight the growing U.S To The Rest Reserve Ratio, a metric developed by his blockchain analytics firm CryptoQuant.
"The U.S. is regaining dominance in Bitcoin holdings. Its ratio compared to other countries is rising, driven by spot ETF demand," Young Ju stated.
The ratio, which tracked known entities in the U.S. like exchanges, banks, and investment funds, against non-U.S. entities, rose from 1.35 beginning July to 1.43 as of Sept. 25.
The U.S. is regaining dominance in #Bitcoin holdings. Its ratio compared to other countries is rising, driven by spot ETF demand. Only known entities are included. pic.twitter.com/a9XOb5134E
— Ki Young Ju (@ki_young_ju) September 26, 2024
Analysis of the chart showed a marked decline in the ratio after peaking at 1.50 in March. This phase until June, was characterized by higher weekly outflows, resulting in a net capital exit of around $2.37 billion, according to data from SoSo Value.
But since July began, inflows into Bitcoin ETFs have increased, and until Sept. 25, the 11 ETFs have raked in $3.41 billion in net inflows.
Why It Matters: The increasing dominance of the U.S. in Bitcoin holdings signifies a growing institutional adoption of the cryptocurrency. Bloomberg ETF analysts James Seyffart and Eric Balchunas predicted last month that within a year, U.S. ETFs would hold more Bitcoin than Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
For context, Nakamoto was purported to have 1.1 million Bitcoin as of February 2024, according to on-chain analytics platform Arkham Intelligence.
As of this writing, Bitcoin worth more than $58 billion was held in U.S. ETFs, with BlackRock'siShares Bitcoin Trust ETF (NASDAQ:IBIT) having a nearly 40% dominance.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,855.18, recording a marginal gain of 0.09% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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著名な暗号通貨アナリストであるKi Young Ju氏は、アメリカがビットコイン（CRYPTO: BTC）保有で優位性を取り戻しており、その増加は現物取引型投資信託（etf）の需要に起因していることに注目が集まっています。
何が起こったか：火曜日、Ki Young Ju氏は、彼のブロックチェーン分析企業CryptoQuantが開発した指標である『成長するアメリカ対他国の準備率』を強調するためにXに取り組みました。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
The ratio, which tracked known entities in the U.S. like exchanges, banks, and investment funds, against non-U.S. entities, rose from 1.35 beginning July to 1.43 as of Sept. 25. 
その比率は、7月初めの1.35から9月25日現在の1.43へ上昇しました。この比率は、取引所、銀行、投資ファンドなどのアメリカの既知エンティティを非アメリカのエンティティに対して追跡しています。 