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Since their approval in January 2024, Spot Bitcoin ETFs continue to gain popularity In the United States, issuers purchased hundreds of thousands of BTC as their popularity grew. This has led to a large amount of BTC being stolen by these issuers with BlackRock being at the forefront of this issue. Looking at their purchases so far, the number of BTC held by Spot Bitcoin ETFs is increasing and is almost at the 1 million mark.
Spot Bitcoin ETFs now hold 924,768 BTC
The United States 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 more than 4% of the total Bitcoin supply. Combined, this makes the Spot Bitcoin ETF one of the largest BTC holders.
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So far, BlackRock has been one of the largest buyers of iBIT BTC, even surpassing Grayscale’s GBTC, which started with 600,000 BTC. Currently, Grayscale holds over 350,000 BTC, making the firm the top Bitcoin holder.
Grayscale is still in second place when it comes to the number of BTC traded. However, Bitcoin funds have recorded more outflows than inflows since January, having lost more than half of their reserves ahead of spot Bitcoin ETF approval. Now, Grayscale holds less than 250,000 BTC after other spot Bitcoin ETFs lost more than $20 billion due to low fees.
Other spot Bitcoin ETFs such as Fidelity FBTC and Ark Invest/21Shares ARKB have reached nearly 50,000 BTC. So far, the fund has managed to acquire 924,768 BTC, bringing their total holdings very close to the 1 million BTC milestone. Overall, the Spot Bitcoin ETF now holds 4.685% of the total Bitcoin supply.
Top addresses with largest holdings
with top bitcoin wallets Largest BTC Holdings There still remains a Satoshi Nakamoto wallet with 1.1 million BTC. However, this wallet has been inactive for a long time, and often falls out of the top Bitcoin wallets list due to its inactivity.
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According to BitInfoCharts websiteBinance’s old wallet with 248,598 BTC worth more than $16.3 billion tops the Bitcoin Rich List. This is followed by the Bitfinex hack recovery wallet containing 94,643 BTC worth $6.2 billion. The Mt. Gox hacked wallet holds 79,957 BTC, the third largest, worth $5.2 billion.
The wallet holding BTC seized from the Silk Road bust is in fourth place with 69,370 BTC, worth $4.56 billion, and the Binance BTCB Reserve Wallet holds 68,200 BTC, worth $4.49 billion.
Featured image created with Dall.E, chart from tradingview.com
