On June 7, 2024, recent data unveiled significant amounts of Bitcoin (BTC) being held by various Spot Bitcoin ETFs, indicating robust institutional interest and participation in the cryptocurrency market. These ETFs collectively possess a substantial portion of the total Bitcoin supply, with the amount flowing into them expected to increase further. Let’s delve into the essential information.
Total Bitcoin Supply in ETFs
Currently, about 5% of the total Bitcoin supply is held in these ETFs, showcasing a significant accumulation that reflects confidence in Bitcoin’s value and potential as a long-term investment. A total of 34 ETFs control over 1,000,000 BTC, underscoring the scale of institutional investment and the crucial role that ETFs play in the broader Bitcoin ecosystem.
Top Bitcoin Holders
Leading the pack among top BTC holders is the BlackRock Shares Bitcoin ETF (IBIT) with 304,995 BTC, closely followed by Grayscale Bitcoin Trust (GBTC) with 284,581 BTC. Fidelity WiseOrigin Bitcoin ETF (FBTC) holds 173,739 BTC, indicating a substantial investment by a major financial institution. These top three ETFs collectively hold over 763,000 BTC, representing more than 76% of the total BTC held by all listed ETFs.
Distribution by Region
In the U.S., ETFs collectively hold 883,978 BTC, forming the majority of the assets and positioning the U.S. as a central hub for Bitcoin ETF investments. Significant U.S.-based ETFs include ARK 21Shares Bitcoin ETF (ARKB) with 45,084 BTC, Bitwise Bitcoin ETF (BITB) with 37,948 BTC, and VanEck Bitcoin Trust (XBTC) with 36,580 BTC.
Current Status of Global ETFs
Globally, Canada’s Purpose Bitcoin ETF holds 26,957 BTC, Germany’s ETC Group Physical Bitcoin ETF holds 20,837 BTC, and Switzerland’s 21Shares Bitcoin ETP holds 11,138 BTC. Other notable global ETFs include CoinShares Physical Bitcoin with 14,996 BTC and WisdomTree Physical Bitcoin with 9,164 BTC. The total amount in all ETFs is approximately $72.24 billion, reflecting significant financial resources dedicated to Bitcoin investment through ETFs, with BlackRock’s ETF alone holding $21.35 billion in assets, followed by Grayscale with $19.09 billion and Fidelity with $12.16 billion.
The substantial BTC holdings by major financial institutions like BlackRock, Fidelity, and Grayscale signify strong institutional confidence in Bitcoin, which could potentially drive further adoption of Bitcoin and enhance its legitimacy as an asset class.
Follow our news on Telegram, Facebook, Twitter & Coinmarketcap. Please note that the information provided in this article is not investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
