Spot Bitcoin ETF have reached another milestone, registering a total of 900,000 BTC since launch. This historic milestone comes amidst significant wave of BTC accumulation in July.
Bitcoin ETF Spot Positions Surpass 900,000 BTC
Bitcoin spot ETFs have achieved an unprecedented feat as BTC ETF Assets in the United States have already surpassed a staggering 900,000 BTC, worth over $60 billion. Nate Geraci, CEO of ETF Store recently revealed on X (formerly Twitter) fasting that the latest milestone of US Spot Bitcoin ETF of 900,000 BTC represents about 4.3% of the total BTC supply of 21 million BTC in the market. Furthermore, this huge supply of BTC Bills for 82% of the nearly 1.1 million BTC held by global BTC ETFs.
In line with the market data from Farside Investors, a London-based investment management firm, Spot Bitcoin ETFs have There was a significant augment in the inflow of fundsreflecting the augment in demand for digital assets. In less than two weeks, the Spot Bitcoin ETF has seen approximately $2.38 billion in net inflows. This significant augment effectively brings the total net inflows to $17 billion since its launch on January 11, 2024.
Farside Investors data also revealed that Spot Bitcoin ETFs have recorded 11 days of consecutive inflows. highest recorded inflow during this period as of July 19, it amounted to approximately $383.6 million. Then, iShares Bitcoin Trust (IBIT) by BlackRock led with an impressive inflow of $116.2 million. BlackRock also attracted the largest amount of inflows over the past two weeks, followed by Fidelity Wise Origin Bitcoin Fund (FBTC).
As a key contributor to the US Spot Bitcoin ETFs achieving the 900,000 BTC milestone, Assets Under Management (AuM) currently IBIT BlackRock manages about 325,449 BTC, worth about $21 billion. That’s significant BTC resources highlights the rapid success of BlackRock, whose Spot BTC ETF has become multi-billion dollar in less than six months.
BTC accumulation grows in July
Among 900,000 US Stocks Spot Bitcoin ETFs, BTC Sees Significant Growth Accumulation spikeThis augment is probably due to recent BTC downtrend changewhich may result in an augment in investor demand for cryptocurrency. According to reports from a cryptocurrency analyst named “Crypto Capex” on Page X, BTC Accumulation in Spot Bitcoin ETF intensified significantly in July, while BTC availability on exchanges continues to decline.
Glassnode also has revealed noticeable augment in BTC accumulation trendwhich increased from 0.05 on June 1 to 0.44 on July 10. Based on the data, the number BTC Whales Holdings of at least 1,000 BTC increased from 1,640 on July 1 to 1,643 on July 10. The move highlights the growing demand for BTC in July.
Featured image created with Dall.E, chart from Tradingview.com
