Key Points
- Nine new spot Bitcoin ETFs amassed 500,000 Bitcoin since their launch in January 2024.
- Their holdings account for 2.54% of the current circulating supply.
- The milestone was reached following another significant inflow day when the nine ETFs held a little under $288 million in BTC.
Farside Investors‘ latest reports show that nine spot Bitcoin ETFs launched on January 11 have accumulated more than 500,000 Bitcoin since the launch.
Now, their holdings are about 2.54% of the circulating supply, and the record number comes after another milestone was hit on Thursday when the nine ETFs were holding $287.7 million in BTC.
Just in 54 trading days, the amount of Bitcoin held by the nine ETFs is worth about $35 billion.
All US spot Bitcoin ETFs, including Grayscale are holding about 850,000 BTC, meaning about 4% of the circulating supply.
This week, the ETF inflows have reversed their trend of outflows since March 18, with a total of $845 million in inflows.
On March 28, there was a total inflow of $183 million, with BlackRock’s IBIT fund leading the pack as it received $95 million. Fidelity and Bitwise also saw similar inflows of around $67 million each, while Ark 21Shares received $27.6 million after a massive inflow of $200 million on Wednesday.
Grayscale’s GBTC fund has seen an outflow of $105 million, the lowest since March 12. The fund has shed 284,846 BTC since its conversion to a spot ETF in mid-January.
BlackRock’s Bitcoin ETF is the fastest-growing in history
The US spot Bitcoin ETFs have seen an enormous rise in popularity and huge interest from institutional investors.
BlackRock’s CEO, Larry Fink, stated that the company’s spot Bitcoin ETF is experiencing unprecedented growth, making it the fastest-growing ETF ever.
He also expressed his optimism about the long-term sustainability of Bitcoin, stating that he is surprised by how much it has increased in value.
He discussed the development of a market with more liquidity and greater transparency, noting that he never expected these outcomes when the company first applied for the spot BTC ETF.
At the moment of writing this article, BTC is trading in the green and the coin is priced at about $69,900, up by over 5% in the past seven days on CoinMarketCap.
BTC has been lingering around $70k and the monthly returns are looking great, with BTC now on its way to closing a record-breaking 7th consecutive month in the green.