Up-to-date reports have revealed that Spot Bitcoin ETF issuers now hold almost 5% of the total BTC supply. This milestone highlights growing demand and rapid expansion of Spot BTC ETFs in the market, offering institutional investors a relatively low level of risk to purchase BTC. The augment in demand it can also catalyze the potential growth of BTC.
Bitcoin ETFs control 5% of the BTC supply
The Spot Bitcoin ETF currently holds almost 5% of BTC total supply 21 million coins. Data from blockchain analytics platform Dune revealed that the total holdings of Spot BTC ETFs in the United States are approximately 842,000 BTC worth approximately $57.2 billion.
Exactly, US Bitcoin ETFs hold 4.27% of the current BTC supply, while global BTC ETF issuers hold approximately 1,002,343 BTC according to data common in a screenshot on X (formerly Twitter) by MicroStrategy co-founder and former chief executive officer (CEO), Michael Saylor.
Saylor revealed that 32 Spot Bitcoin ETFs currently hold a total of “one Nakamoto BTC,” meaning these ETF issuers hold approximately one million BTC. It is worth noting that global ETF shares are currently five times larger than Saylor’s BTC assets of 214,400 BTC and valued at $15 billion.
Most Spot BTC ETFs held in the US are provided by leading asset management companies such as Black RockGrayscale, Fidelity Investments and more.
Reports from the Arkham Investments blockchain analytical platform shows that Grayscale and BlackRock are among the largest holders of ETF funds in the world. Grayscale Bitcoin Trust (GBTC) holds approximately 288,084 BTC, while BlackRock iShares Bitcoin Trust (IBIT) owns 284,027 BTC.
Other Spot Bitcoin ETF issuers BTC holders include Fidelity Wise Origin Bitcoin BTC (FBTC) with 154,370 BTC, Dynamic Bitcoin Futures Strategy ETF (ARKA) with 48,444 BTC, and Bitwise Bitcoin ETF (BITB) with 36,092 BTC.
Potential price increases in the future BTC?
By following approval of Spot BTC ETFs on January 10, BTC saw an exponential price augment, reaching a novel all-time high above $73,000 in March. as the demand for Spot Bitcoin ETFs has increasedBTC has also seen a surge in popularity.
Currently, with Spot BTC ETFs accounting for around 5% of the total BTC supply, this could signal an augment in BTC prices, potentially causing prices to skyrocket to novel highs. At the time of writing BTC price According to CoinMarketCap, the quote is below $70,000 and amounts to $68,192.
WITH growing demand for Spot BTC ETFs and consistent inflows, the BTC price may rebound soon. Cryptocurrency analyst Ali Martinez did this as well maintained positive attitude towards BTC, anticipating a potential rebound in the near future. In the post, X revealed that TD Sequential BTC is currently showing a buy signal on its hourly chart.
Featured image created with Dall.E, chart from Tradingview.com
