Analysis: Public companies have bought more Bitcoin than ETFs for three consecutive quarters

Odaily News Data provider Bitcoin Treasuries tracks information showing that public companies bought about 131,000 bitcoins in the second quarter, and their bitcoin balances grew 18%. Over the same period, bitcoin ETF holdings grew 8% to about 111,000 bitcoins. Nick Marie, director of research at Ecoinometrics, said: "Institutional buyers who access bitcoin through ETFs do not buy for the same reasons as public companies that are trying to accumulate bitcoin to ultimately increase shareholder value." However, at present, Bitcoin ETFs are still the largest holders of Bitcoin, holding more than 1.4 million bitcoins, accounting for about 6.8% of the fixed supply cap of 21 million, while public companies hold a total of about 855,000 bitcoins, accounting for about 4%. (CNBC)