Bitcoin ETFs Now Hold More Than One Million BTC Worldwide

Bitcoin ETFs have just crossed a historic milestone. Their collective holdings now exceed one million BTC. This represents an astronomical value of nearly $68 billion.

Are the ETFs slowing the growth of Bitcoin held in self custody? pic.twitter.com/F5qbwmEeiU

— HODL15Capital 🇺🇸 (@HODL15Capital) May 28, 2024

Massive adoption of Bitcoin ETFs

The Bitcoin ETF sector is experiencing rapid growth. Since the eagerly awaited launch of the first spot Bitcoin ETFs in the United States last January, these products have not stopped attracting investments. In just a few months, the 11 US Bitcoin ETFs have accumulated over 855,619 BTC. This represents 6,200 BTC per day.

That’s not all! Globally, 21 other products add to this impressive accumulation. They are offered:

• in Canada,
• in Germany,
• in Brazil,
• elsewhere,

In total, Bitcoin ETFs now hold the colossal sum of 1,002,343 BTC. This represents 5.08% of the total Bitcoin supply in circulation. A figure that demonstrates the massive adoption of these products by investors, attracted by the easy access to Bitcoin.

The heavyweights of Bitcoin ETFs

Among Bitcoin ETFs, two giants stand out clearly. The GBTC, a pioneer in the field, remains the largest holder with 289,040 BTC in its portfolio, valued at nearly $20 billion. It is closely followed by the IBIT from the renowned management company BlackRock, which holds 287,168 BTC, or about $19.8 billion.

In fact, this last one could surpass GBTC as early as this week if current trends continue. Indeed, Grayscale has lost about 53% of its Bitcoin holdings since its product was converted into a spot ETF in January. Inflows, however, remain stable on the BlackRock side.

The massive adoption of Bitcoin ETFs reflects the growing interest of investors in this class of digital assets. With more than one million BTC held collectively, these products allow unprecedented exposure to Bitcoin. They help accelerate its large-scale institutionalization.