The spot Bitcoin exchange-traded funds (ETFs) have accumulated over 900,000 BTC since their launch and are on track to surpass the 1.1 million BTC believed to be held by Bitcoin’s creator, Satoshi Nakamoto. Bloomberg senior ETF analyst Eric Balchunas shared a list of spot Bitcoin ETF holdings, with a total of 916,047 BTC as of September 24th. They are close to reaching the milestone of 1 million BTC, equivalent to over $63.6 billion at the current price of $63,622.03.
Among the US-traded funds, BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds the largest amount of BTC, with 358,080 BTC. Grayscale’s ETFs, GBTC and Grayscale Mini Trust (BTC), collectively hold 258,671 BTC, while Fidelity’s ETF FBTC holds 184,490 BTC. These three Bitcoin ETFs account for nearly 86% of the BTC held by the 11 US-traded ETFs. Fidelity also serves as a custodian for roughly 100,000 BTC held by MicroStrategy, which were not included in the report.
Notably, BlackRock added approximately 530 BTC to its wallets in the last 24 hours, with the last purchase occurring one week ago. The significant inflows into spot Bitcoin ETFs reached a total of $17.8 billion on September 24th, following four consecutive days of inflows totaling around $391 million. Fidelity’s FBTC led the way with $117.7 million in positive flows, while BlackRock’s IBIT received $110.4 million despite two days of inactivity. ARK 21Shares’ ARKB also saw over $100 million in inflows.
The increasing popularity and adoption of spot Bitcoin ETFs reflect investor confidence in the cryptocurrency market and the potential for future growth. As these ETFs continue to accumulate BTC holdings, they are likely to play a significant role in shaping Bitcoin’s price dynamics and market trends. With institutional investors and asset managers like BlackRock showing continued interest in Bitcoin, the cryptocurrency’s mainstream acceptance and integration into traditional investment portfolios are becoming more evident.
Overall, the rise of spot Bitcoin ETFs signals a maturation of the cryptocurrency market and a shift towards more regulated and institutionalized investment vehicles. As these ETFs continue to attract significant inflows and accumulate large amounts of BTC, they are expected to play a pivotal role in shaping the future of Bitcoin trading and investment strategies. Investors and analysts will closely monitor the movements and holdings of these ETFs to gauge market sentiment and predict potential price movements in the cryptocurrency market.
