U.S. Bitcoin ETFs Are About to Hit 1 Million BTC: What You Need to Know!

According to the latest data collected on August 16, 2024, the 12 spot bitcoin exchange-traded funds (ETFs) collectively hold around 910,153.83 BTC, valued at over $53 billion with current exchange rates. Leading the charge is Blackrock’s IBIT, which holds 38.34% of the total BTC.

12 Spot Bitcoin ETFs Close in on Holding 1 Million BTC

These U.S. bitcoin ETFs have secured a substantial portion of the circulating BTC, accumulating hundreds of thousands of coins since January 11, 2024. Notably, Grayscale’s GBTC had amassed a significant amount of BTC before transitioning into a publicly traded ETF. Following its public debut, Grayscale’s GBTC held 617,079.99 BTC, but has since faced an outflow exceeding $19.6 billion, reducing its holdings to 230,430.14 BTC as of August 16. Despite this decrease, GBTC still controls 25.32% of the total BTC managed by these funds.

Out of the 910,153.83 BTC held in reserves, each fund has a distinct percentage of those holdings with IBIT and GBTC leading and BTCW and DEFI at the lowest point.

The heavyweight in the spot bitcoin ETF arena is Blackrock, which boasts 348,950.63 BTC. Since its inception, Blackrock’s IBIT has attracted $20.39 billion in inflows, accounting for 38.34% of the total. Fidelity’s FBTC follows, holding 176,972.81 BTC, representing 19.44% of the total BTC held by the 12 funds. Ark Invest’s ARKB fund holds 46,406 BTC, making it the fourth-largest fund with 5.1% of the total.

Other notable holdings include:

• Bitwise’s BITB: 37,993.13 BTC (4.17%)
• Grayscale’s Mini Bitcoin Trust: 31,598.11 BTC (3.47%)
• Vaneck’s HODL: 10,916.89 BTC (1.2%)
• Coinshares’ Valkyrie fund BRRR: 8,876.05 BTC (0.98%)
• Invesco’s and Galaxy’s BTCO: 7,813 BTC (0.86%)
• Franklin Templeton’s EZBC: 6,525 BTC (0.72%)
• Wisdomtree’s BTCW: 3,493.77 BTC (0.38%)
• Hashdex’s fund DEFI: 178.3 BTC (0.02%)

As of block height 857,408, the total circulating BTC supply is 19.741 million, meaning the 910,153.83 BTC held by these ETFs accounts for 4.61% of the circulating supply.

What do you think about the stash of bitcoin held by the 12 U.S. spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.