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Our reporter Zhao Yi (chinatimes.net.cn) reports from Shanghai

On August 15, according to the quarterly documents submitted by major institutions to the US SEC, Goldman Sachs and Morgan Stanley have cumulatively purchased over $600 million in spot Bitcoin ETFs in the second quarter of this year. In addition, pension funds are also accelerating their entry into the market. The Michigan Pension Fund in the United States bought $6.6 million in Bitcoin spot ETFs in the second quarter.

"The increase in holdings of Bitcoin ETFs by leading financial institutions and pension funds represents a trend of further integration between the digital asset market and the traditional financial market, which will have a profound impact on the long-term development of the Bitcoin market." Yu Jianing, president of Uweb and co-chairman of the Blockchain Committee of the China Communications Industry Association, told a reporter from the China Times.

Today, it has been 7 months since the Bitcoin spot ETF landed on the US market. Data shows that the 10 spot Bitcoin funds currently traded on US stock exchanges hold a total of nearly 1 million bitcoins, but as the holdings increase, Bitcoin's decentralized nature is being challenged.

Financial giants add Bitcoin ETFs