Since their approval in January 2024 Spot Bitcoin ETFs continue to grow in popularity in the United States, where issuers are buying hundreds of thousands of BTC as their popularity grows. This led to these issuers accumulating a gigantic amount of BTC, led by BlackRock. Given their buying spree so far, the number of BTC held by Spot Bitcoin ETFs is growing and is approaching 1 million,

The Bitcoin ETF spot currently holds 924,768 BTC

The U.S. Securities and Exchange Commission approved a total of 12 Spot Bitcoin ETFs for trading in January 2024. Now, just eight months later, these ETFs have managed to capture over 4% of the total Bitcoin supply. Combined, this makes Spot Bitcoin ETFs some of the largest holders of BTC.

So far, BlackRock IBIT has been one of the largest buyers of BTC, even surpassing GBTC Grayscale, which had a lead of 600,000 BTC. Currently, Grayscale holds over 350,000 BTC, making the company the top holder of Bitcoin.

Grayscale still ranks second in terms of BTC holdings. However, since January, the Bitcoin fund has seen more outflows than inflows, losing more than half of its holdings ahead of the approval of the Spot Bitcoin ETF. Grayscale currently holds less than 250,000 BTC after losing over $20 billion to other Spot Bitcoin ETFs due to their lower fees.

Other Spot Bitcoin ETFs such as Fidelity FBTC and Ark Invest/21Shares ARKB reached almost 50,000 BTC. To date, the funds have been able to accumulate 924,768 BTC, which means their total holdings are very close to the 1 million BTC threshold. In total, the Spot Bitcoin ETFs currently boast 4,685 of the total Bitcoin supply.

The best addresses with the most resources

The best Bitcoin wallet with largest shares in BTC it still remains Satoshi Nakamoto’s wallet, which contains 1.1 million BTC. However, this wallet has been dormant for a long time and often left off the list of best Bitcoin wallets due to its lack of activity.

According to BitInfoCharts websiteat the top of the Bitcoin opulent list is the elderly Binance wallet with 248,598 BTC worth over $16.3 billion. Next is the Bitfinex Hack Recovery wallet with 94,643 BTC and $6.2 billion. The Mt Gox Hack wallet holds 79,957 BTC and is the third largest wallet worth $5.2 billion.

The wallet containing BTC confiscated after the Silk Road collapse with 69,370 BTC is in fourth position worth $4.56 billion, and the Binance BTCB Reserve wallet contains 68,200 BTC worth $4.49 billion.

Featured image created with Dall.E, chart from Tradingview.com