Bitcoin ETF

Spot

Grayscale Bitcoin Trust

New reports have revealed that Spot Bitcoin ETF issuers now hold almost 5% of BTC’s total supply. This milestone underscores the growing demand and <a href="https://bitcoinist.com/crypto-bank-of-america-now-offer-bitcoin-etfs/">rapid expansion of Spot BTC ETFs</a> in the market, offering institutional investors a relatively low-risk means to acquire BTC. The <a href="https://bitcoinist.com/spot-bitcoin-etfs-record-inflows/">surge in demand</a> could also catalyze a potential increase for BTC.&nbsp; 
<h2 id="bitcoin-etfs-control-5-of-btc-supply">Bitcoin ETFs Control 5% Of BTC Supply</h2> 
Spot Bitcoin ETFs now hold nearly 5% of BTC’s<a href="https://bitcoinist.com/these-new-spot-bitcoin-etfs-now-hold-nearly-of-btc/">&nbsp;total supply</a> of 21 million coins. <a href="https://dune.com/hildobby/btc-etfs" rel="nofollow noopener" target="_blank">Data</a> from blockchain analytics platform, Dune has disclosed that the total on-chain holdings for Spot BTC ETFs in the United States is about 842,000 BTC, valued at approximately $57.2 billion.&nbsp; 
Precisely, <a href="https://bitcoinist.com/third-largest-us-bank-spot-bitcoin-etfs/">US Bitcoin ETFs</a> hold 4.27% of the current BTC supply, while global BTC ETF issuers hold about 1,002,343 BTC according to data <a href="https://x.com/saylor/status/1795037549301313774?s=46" rel="nofollow" target="_blank">shared</a> in a screenshot on X (formerly Twitter) by MicroStrategy co-founder and former Chief Executive Officer (CEO), <a href="https://bitcoinist.com/spot-ethereum-etfs-bitcoin/">Michael Saylor</a>.&nbsp; 
Saylor disclosed that 32 Spot Bitcoin ETFs now cumulatively hold “one Nakamoto of BTC,” implying that these ETF issuers hold approximately one million BTC. Notably, the <a href="https://www.newsbtc.com/news/bitcoin-global-etfs-records-all-time-best-performances/" rel="nofollow noopener" target="_blank">global ETF holdings</a> are currently five times the size of Saylor’s BTC assets which amounts to 214,400 BTC, valued at $15 billion.&nbsp; 
The majority of the Spot BTC&nbsp;ETFs held within the US are provided by prominent asset management companies such as <a href="https://bitcoinist.com/blackrock-buy-bitcoin-etfs-global-allocation-fund/">BlackRock</a>, Grayscale, Fidelity Investments and more.&nbsp; 
<a href="https://platform.arkhamintelligence.com/explorer/entity/grayscale" rel="nofollow noopener" target="_blank">Reports</a> from blockchain analytics platform, Arkham Investments show that Grayscale and BlackRock are one of the largest ETF holders globally. <a href="https://bitcoinist.com/grayscale-spot-bitcoin-etf/">Grayscale Bitcoin Trust (GBTC)</a> holds approximately 288,084 BTC while BlackRock iShares Bitcoin Trust (IBIT) owns 284,027 BTC. 
Other <a href="https://www.newsbtc.com/news/is-the-crypto-winter-thawing-us-bitcoin-etfs-record-first-inflows-in-weeks-coinshares/" rel="nofollow noopener" target="_blank">Spot Bitcoin ETF issuers</a> who hold BTC include Fidelity Wise Origin Bitcoin BTC (FBTC) with 154,370 BTC, Active Bitcoin Futures Strategy ETF (ARKA) with 48,444 BTC, and Bitwise Bitcoin ETF (BITB) with 36,092 BTC.&nbsp;&nbsp; 
<h2 id="potential-price-surge-ahead-for-btc">Potential Price Surge Ahead For BTC?</h2> 
Following the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/">approval of Spot BTC ETFs on January 10</a>, BTC witnessed an exponential price increase, surging to a new all-time high above $73,000 in March. As the <a href="https://bitcoinist.com/bitcoin-ablaze-data-reveals-robust-demand-for-etfs/">demand for Spot Bitcoin ETFs grew</a>, BTC also experienced soaring adoption.&nbsp; 
Now, with Spot BTC ETFs holding approximately 5% of BTC’s total supply, this could signal a bullish rally for BTC, potentially triggering price surges to new highs. As of writing, <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-higher-70k/" rel="nofollow noopener" target="_blank">BTC’s price</a> is trading below the $70,000 mark at $68,192, according to CoinMarketCap. 
With the <a href="https://bitcoinist.com/morgan-stanley-spot-bitcoin-etfs/">increasing demand for Spot BTC ETFs</a> and consistent inflows, BTC’s price could witness a rebound soon. Crypto analyst Ali Martinez has also <a href="https://x.com/ali_charts/status/1795368817050415111?s=46" rel="nofollow" target="_blank">maintained</a> an optimistic outlook on BTC, predicting a potential rebound soon. He disclosed in an X post that BTC’s TD Sequential is currently presenting a buy signal on its hourly chart.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/Sz7081sF/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Bitcoin ETF Issuers Now Hold A Record 5% Of The Total BTC Supply, Catalyst For A Surge?

Table of Contents

Bitcoinist

Other articles published on May 28, 2024

Unlock Steady Passive Income with Crypto Staking: The Ultimate Guide to CryptoHeap

Sunken Bitcoin Exchange Transferred Thousands of Bitcoins in Its Wallet to Unknown Address! Bitco...

Next Crypto ETF? Top 8 Possible Tokens!

EXCLUSIVE: Will Ethereum ETFs Lead To New All-Time Highs? 50% Of Holders Say They Would Sell At T...

The future of digital identity in South Africa by Gur Geva

Former SEC Chief Predicts Inevitable Trading Of Ethereum Spot ETFs In US; Market-Data Provider Dr...

Join our free newsletter for daily crypto updates!