Bitcoin Spot ETFs Now Hold Over 1 Million BTC: Grayscale and BlackRock Lead the Pack with Over $35 Billion in BTC ETFs
Bitcoin exchange-traded funds (ETFs) have hit a major milestone, now holding over 1 million BTC. These ETFs, which track Bitcoin's price, collectively own 1,002,343 BTC as of May 24. This data, shared by MicroStrategy's Michael Saylor on Twitter, has been verified by Decrypt and Coinglass.
Key POints:
Massive Holdings: Bitcoin ETFs now hold 5% of the total circulating BTC supply, worth $70.5 billion.
Top Players: Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust are the giants, holding 289,040 BTC and 287,168 BTC respectively.
US Dominance: Most of these assets are in U.S. Bitcoin spot ETFs, which launched in January and broke all ETF launch records.
Other Major Funds: Fidelity Wise Origin Bitcoin Trust (161,538 BTC), Ark 21Shares Bitcoin ETF (48,444 BTC), and Bitwise Bitcoin ETF (36,185 BTC).
Global Presence: Canada’s Purpose Bitcoin ETF, the first in the world, holds 27,110 BTC.
Why It Matters:
Bitcoin ETFs offer a way for investors to gain exposure to Bitcoin without directly buying the cryptocurrency. This is particularly useful for large institutions and investors with retirement accounts or other tax-advantaged accounts.
Institutional Interest:
Big Investors: Over 20% of U.S. spot Bitcoin ETF exposure is held by large investors and institutions with assets exceeding $100 million. This includes hedge funds, banks, and even the Wisconsin state pension fund.
Market Potential: According to Bitwise CIO Matt Hougan, these ETFs could make up 1-5% of the $7 trillion U.S. ETF market, representing a multi-hundred billion dollar opportunity.
The growing popularity and substantial holdings of Bitcoin ETFs underscore the increasing mainstream acceptance and institutional interest in Bitcoin as an asset class.
