US Bitcoin ETFs on the Verge of Controlling 1 Million BTC

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

12 Spot Bitcoin ETFs Close in on Holding 1 Million BTC

The 12 U.S. bitcoin ETFs have scooped up a substantial portion of the circulating BTC, absorbing hundreds of thousands of coins since Jan. 11, 2024. It’s noteworthy that Grayscale’s GBTC had already amassed a significant amount of BTC before evolving into a publicly traded ETF. The day after its public debut, Grayscale’s GBTC held 617,079.99 BTC. However, it has since experienced an outflow exceeding $19.6 billion, reducing its current BTC holdings to 230,430.14 as of Aug. 16. Despite this decrease, GBTC remains a significant player, controlling 25.32% of the 910,153.83 BTC managed by the 12 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 realm of spot bitcoin ETFs is Blackrock, boasting a stash of 348,950.63 BTC. Since its inception, Blackrock’s IBIT has attracted $20.39 billion in inflows, accounting for 38.34% of the 910K total. Fidelity’s FBTC trails behind IBIT and GBTC, holding 176,972.81 BTC as per the Aug. 16 data. FBTC’s share represents 19.44% of the BTC held by the 12 funds. Ark Invest’s and 21shares’ ARKB fund, which has accumulated 46,406 BTC since its launch, stands as the fourth-largest fund.

ARKB controls 5.1% of the 910K BTC. Bitwise’s BITB has secured 37,993.13 BTC, making up 4.17% of the total, while Grayscale’s Mini Bitcoin Trust now holds 31,598.11 BTC, or 3.47%. Vaneck’s HODL manages 10,916.89 BTC, which is 1.2%, and Coinshares’ Valkyrie fund BRRR holds 8,876.05 BTC, or 0.98%. Invesco’s and Galaxy’s BTCO currently holds 7,813 BTC, while Franklin Templeton’s EZBC secures 6,525 BTC, with these two funds representing 0.86% and 0.72%, respectively.

Wisdomtree’s BTCW holds 3,493.77 BTC, contributing 0.38% of the total cache among the 12 funds. Lastly, Hashdex’s fund DEFI has the smallest bitcoin holding of the group, with just 178.3 BTC, or 0.02%. As of block height 857,408, the BTC money supply or total amount of BTC in circulation is 19.741 million and the 910,153.83 BTC equates to 4.61% of the circulating supply.