VanEck said in a new report that a total of roughly $175 billion in bitcoin is currently being held across the various ETFs, nations and public and private companies that have acquired the popular cryptocurrency. Hedge funds, asset management firms, and endowments are increasingly recognizing bitcoin’s potential as a store of value," VanEck said in the report. "Approximately $175 billion worth of bitcoin are now held by ETFs, countries, public and private companies." As of Wednesday, bitcoin's total market capitalization was about $1.2 trillion. RELATED INDICES See crypto indicesVanEck issued a spot bitcoin exchange-traded fund that started trading in January.

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