This Canadian ETF will trade under the ticker IBIT.U. Meanwhile, companies like Semler Scientific are increasing their Bitcoin holdings, with Semler now holding 2,321 BTC worth $192 million. MicroStrategy also surpassed 450,000 BTC after its recent purchase. Despite recent price volatility tied to macroeconomic factors, Bitcoin's supply on exchanges has hit a seven-year low, which signals strong institutional demand and potential for future price growth. Canadian Investors Gain Access to BlackRock’s Bitcoin ETF BlackRock, the world’s largest asset manager, is introducing a new Bitcoin exchange-traded fund (ETF) on Cboe Canada to provide Canadian investors with access to its flagship US spot Bitcoin fund, the iShares Bitcoin Trust (IBIT). This Canadian ETF, which is named iShares Bitcoin ETF, will allocate nearly all its assets to IBIT and trade under the same ticker. Additionally, shares denominated in US dollars will carry the ticker IBIT.U . Helen Hayes, BlackRock’s head of iShares Canada, shared that the fund offers Canadian investors an efficient way to gain Bitcoin exposure while eliminating the complexities of directly holding the cryptocurrency. (Source: Cboe Canada ) This launch adds to the growing list of Bitcoin ETFs available in Canada , with over a dozen already trading on local exchanges. BlackRock’s US IBIT ETF was launched in January of 2024, and has become a very dominant player in the global Bitcoin ETF market after attracting over $37 billion in net inflows . Collectively, US Bitcoin ETFs recorded $35 billion in net inflows last year, despite the large outflows from older products like the Grayscale Bitcoin Trust (GBTC), which faced stiff competition because of its higher management fees. The growth of Bitcoin ETFs also reflects the shift in investor sentiment where Bitcoin is increasingly seen as a critical asset for hedging against inflation and geopolitical risks. In November, US Bitcoin ETFs surpassed $100 billion in net assets for the first time, and analysts project another $48 billion in net inflows for 2025. JPMorgan’s December report also shed some light on Bitcoin’s growing importance in diversified portfolios, driven by record capital inflows into crypto markets. Asset manager Sygnum Bank suggested that rising institutional demand for Bitcoin ETFs could trigger serious demand shocks which could potentially propel Bitcoin’s price to new highs in 2025. Semler Scientific Boosts Bitcoin Holdings Semler Scientific, a healthcare technology company, bought an additional 237 Bitcoin for approximately $23 million, paying just over $98,000 per coin. This acquisition was funded by stock sales and operating cash flow, and brings the company’s total Bitcoin holdings to 2,321 BTC, which is valued at close to $192 million. (Source: Semler Scientific ) Over $120 million in stock has been issued by the company to finance its Bitcoin acquisitions and other activities. This increased its Bitcoin yield, which is the ratio of BTC holdings to outstanding shares, from 72.6% to 99.3%. This metric was originally popularized by MicroStrategy, and it serves as a key performance indicator for companies integrating Bitcoin into their corporate strategy. Semler’s leadership believes that investing in Bitcoin has been pivotal in transforming the company from a struggling “zombie” entity that barely survived on minimal earnings, into a more dynamic operation. Semler joins other companies like Hoth Therapeutics , Genius Group , and Rumble in following the Bitcoin-buying playbook that was established by MicroStrategy. Bitcoin holdings (Source: Bitcoin Treasuries ) Corporate Bitcoin treasuries now hold more than $54 billion collectively, and Semler ranks 13th in size. MicroStrategy leads the pack with a Bitcoin treasury exceeding $40 billion. This trend certainly reflects growing institutional interest in Bitcoin as a hedge against inflation and economic uncertainty. Some well known investors like Paul Tudor Jones echoed this sentiment, while asset manager VanEck pointed out that even US state governments are adding Bitcoin to their portfolios to mitigate fiscal risks. MicroStrategy Surpasses 450,000 Bitcoin Milestone MicroStrategy also reached a new milestone in its Bitcoin holdings by surpassing 450,000 BTC after a $243 million investment during the recent market dip. The company’s total Bitcoin acquisition now stands at $28.2 billion, with an average purchase price of $62,691 per Bitcoin. Founder and chairman Michael Saylor revealed the latest purchase , which was made at an average price of $95,972. Hedge funds and some other institutional players, including Semler Scientific, also took advantage of the price drop. Bitcoin’s recent volatility was influenced by macroeconomic factors. The cryptocurrency fell below $92,000 after the release of strong US labor market data from the Job Openings and Labor Turnover Survey (JOLTS) on Jan. 9. Analysts attribute the decline to concerns over the Federal Reserve’s monetary tightening in 2025, which delayed expectations of rate cuts until late July. This made Bitcoin and other cryptocurrencies much less attractive to some investors who are reverting to being reactive to broader economic trends. Bitcoin’s price reached an all-time high of over $100,000 in December of 2024 after Donald Trump’s presidential election victory, but now faces challenges tied to the anticipated slower pace of Federal Reserve rate cuts. Despite this, continued institutional buying proves that there is still some confidence in Bitcoin’s long-term potential, even as macroeconomic uncertainties weigh on short-term price movements. Bitcoin’s price action over the past month (Source: CoinMarketCap ) Bitcoin Exchange Reserves Hit 7-Year Low Bitcoin reserves on crypto exchanges have fallen to a near seven-year low after reaching 2.35 million BTC on Jan. 13, according to CryptoQuant data . This level was last seen in June of 2018, when Bitcoin traded just above $7,000. Bitcoin exchange reserves (Source: CryproQuant ) The decline in exchange reserves is largely attributed to institutional buying, with hedge funds and spot Bitcoin ETFs acquiring large amounts of BTC during the recent dip. André Dragosch , head of research at Bitwise, pointed out the increased market exposure to Bitcoin by hedge funds. The diminishing Bitcoin supply on exchanges fueled speculation about a potential supply shock, which is a phenomenon where strong demand meets reduced availability that could lead to upward price pressure. In December, spot Bitcoin ETFs purchased nearly three times the number of coins mined, which tightened the supply as Bitcoin hit an all-time high of $108,300 on Dec. 17. Analysts suggest this dynamic may contribute to Bitcoin’s recovery to and beyond the $100,000 psychological mark, though low trading volumes are still a barrier to any major rally. Ryan Lee , chief analyst at Bitget Research, noticed reduced selling pressure and potential consolidation as Bitcoin stabilizes around its current levels. However, he stated that trading volume on daily timeframes is still subdued, which indicates a lack of decisive momentum to break key resistance levels. The broader crypto market is also experiencing low trading activity, with volumes across major assets falling to levels last seen before the US elections in November 2024. This “trading paralysis” reflects fear and uncertainty but may also increase the probability of market rebounds, according to market intelligence platform Santiment . Despite the current challenges, analysts remain optimistic about Bitcoin’s long-term trajectory. Predictions for late 2025 suggest a potential cycle top above $150,000, driven by an anticipated $20 trillion increase in the global money supply, which could direct $2 trillion into Bitcoin investments.
