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.

"Bitcoin interest among institutional investors has also increased. 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."

That accounts for roughly 15% of the entire bitcoin supply, according to CoinGecko. As of Wednesday, bitcoin's total market capitalization was about $1.2 trillion. The price of the world's largest cryptocurrency by market cap has fallen during the last week …