Bitcoin exchange-traded funds (ETFs) have recently achieved a significant milestone, surpassing the 1 million BTC threshold in total holdings. As of now, these funds collectively hold approximately 1,002,343 BTC, reflecting a substantial valuation of around $70.5 billion at current market prices.
The surge in Bitcoin ETF holdings follows the U.S. Securities and Exchange Commission’s (SEC) approval of several spot Bitcoin ETFs earlier this year. Initially, in January 2024, the SEC approved 11 spot Bitcoin ETFs, with Grayscale’s Bitcoin Mini Trust bringing the total to 12.
This regulatory shift enabled these funds to operate publicly on major exchanges, significantly increasing their visibility and accessibility to investors.
The leading ETFs in terms of holdings are: Grayscale Bitcoin Trust (GBTC) Approximately 289,040 BTC, BlackRock’s iShares Bitcoin Trust (IBIT): Roughly 287,168 BTC, Fidelity Wise Origin Bitcoin Trust (FBTC): About 161,538 BTC, Ark 21Shares Bitcoin ETF (ARKB): Holds around 48,444 BTC, Bitwise Bitcoin ETF (BITB): Approximately 36,185 BTC, Purpose Bitcoin ETF (Canada): The largest outside the U.S., holding 27,110 BTC.
These ETFs represent a significant portion of the total circulating supply of Bitcoin globally—approximately 5%.
The inflow of capital into these ETFs has been remarkable. In just the past week, BlackRock’s IBIT alone attracted nearly $1 billion, showcasing strong institutional interest. Over four consecutive days of trading, spot Bitcoin ETFs recorded total inflows of approximately $391 million, with Fidelity’s FBTC leading the charge with about $117.7 million in positive flows.
This influx is indicative of a wider trend where large institutional investors are increasingly seeking exposure to Bitcoin through regulated investment vehicles.
Reports indicate that over 20% of the exposure to U.S. spot Bitcoin ETFs comes from institutions managing assets exceeding $100 million, including hedge funds and pension funds.
The collective holdings of these 12 ETFs position them as significant players in the cryptocurrency market. The value of their combined holdings has risen sharply alongside Bitcoin’s price movements, which have seen considerable volatility but overall growth in recent months.
With these funds attracting investment, they are also approaching a notable benchmark—the estimated holdings of Bitcoin’s pseudonymous creator Satoshi Nakamoto, who is believed to control around 1.1 million BTC. The current trajectory suggests that Bitcoin ETFs could soon surpass this figure, further solidifying their role in the cryptocurrency ecosystem.
