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Bitcoin ETFs Surpass One Million BTC Milestone as US-based ETFs Lead the Market

The milestone of holding over one million BTC collectively marks a pivotal moment for Bitcoin ETFs, potentially driving further institutional adoption and mainstream acceptance of Bitcoin.

The milestone of holding over one million BTC collectively marks a pivotal moment for Bitcoin ETFs.
Credit: Foretoken Media 2024

Data from reveals that all Bitcoin exchange-traded funds (ETFs) collectively hold over one million Bitcoin (BTC) as of March 12. This milestone showcases the growing institutional interest and adoption of Bitcoin through ETF investments. The Bitcoin ETFs are distributed across several countries, including the United States, Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia.

US Bitcoin ETFs Dominate the Market

Among these, US-based Bitcoin ETFs lead the charge with substantial holdings. Grayscale GBTC holds approximately 292,000 BTC, making it the largest holder.

Close behind is BlackRock IBIT with roughly 280,000 BTC, followed by Fidelity FBTC with 162,000 BTC. Collectively, these three giants account for approximately 734,000 BTC, underscoring the dominance of US Bitcoin ETFs in the global market.

Continuous Inflows into US Bitcoin ETFs

According to Farside data, May 24 marked another robust day for US Bitcoin ETFs, with inflows reaching $251.9 million. This continues a streak of ten consecutive trading days of positive inflows, highlighting sustained investor interest. BlackRock IBIT led the inflows with an impressive $182.1 million, bringing their total net inflow to $16.4 billion.

Fidelity FBTC followed with a $43.7 million inflow, pushing their total net inflow to $8.7 billion. VanEck HODL also saw significant activity, recording a $15.6 million inflow, raising their total net inflow to $525.3 million. Meanwhile, Grayscale GBTC reported no inflows or outflows, maintaining a net outflow of $17.6 billion.

The Growing Impact of Bitcoin ETFs

Overall, the total net inflows into US Bitcoin ETFs have now reached $13.7 billion, according to Farside data. This significant influx of capital into Bitcoin ETFs reflects a growing confidence among investors in the long-term potential of Bitcoin as an asset class.

The continuous inflows suggest that Bitcoin ETFs are becoming a preferred investment vehicle for gaining exposure to Bitcoin without the complexities of direct ownership.


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