Spot Bitcoin ETFs have reached yet another significant milestone, having amassed 900,000 BTC since their inception
This historic milestone is achieved amid the considerable wave of BTC accumulation in July.
Spot Bitcoin ETFs Holdings Exceed 900,000 BTC
Spot Bitcoin ETFs have achieved an unprecedented achievement, as the United States BTC ETF holdings have now transcended a shocking 900,000 BTC valued at over $60 billion. In a recent X (formerly Twitter) post, Nate Geraci, President of the ETF Store, disclosed that the US Spot Bitcoin ETF’s recent 900,000 BTC milestone represents approximately 4.3% of the market’s 21 million BTC total supply.
Furthermore, this substantial BTC holding comprises 82% of the nearly 1.1 million BTC that global BTC ETFs possess.
Spot Bitcoin ETFs have experienced a substantial increase in inflows, indicative of a surge in demand for the digital asset, as per market data from Farside Investors, a London-based investment management company. In less than two weeks, approximately $2.38 billion in net inflows were observed in Spot Bitcoin ETFs. Since its inception on January 11, 2024, this substantial increase has effectively increased its total net inflows to $17 billion.
Spot Bitcoin ETFs have experienced 11 consecutive days of inflows, according to data from Farside Investors. About $383.6 million was recorded as the maximum inflow on July 19. At that time, BlackRock’s iShares Bitcoin Trust (IBIT) was the industry leader, with an impressive inflow of $116.2 million. BlackRock has also received the most inflows in the past two weeks, with Fidelity Wise Origin Bitcoin Fund (FBTC) following closely behind.
The Assets Under Management (AuM) of BlackRock’s IBIT, valued at approximately $21 billion, have now managed approximately 325,449 BTC, a significant contribution to the 900,000 BTC milestone the US Spot Bitcoin ETFs attained. The Spot BTC ETF has achieved a multi-billion dollar status in less than six months, underscoring BlackRock’s rapid success. This significant BTC holding is a testament to this.
BTC Accumulation Increases In July
BTC has experienced substantial accumulation amid the 900,000 surges in the US Spot Bitcoin ETFs holdings. This growth is likely to be influenced by the recent bearish trend in BTC, which may have sparked an increase in the demand for the cryptocurrency among investors. BTC accumulation into Spot Bitcoin ETFs has intensified substantially in July, as reported by a crypto analyst known as “Crypto Capex” on X, while the availability of BTC on exchanges continues to decrease.
Glassnode has also disclosed a substantial increase in the BTC accumulation trend, which increased from 0.05 on June 1 to 0.44 by July 10. The number of BTC billionaires holding at least 1,000 BTC increased from 1,640 on July 1 to 1,643 on July 10, as indicated by the data. This action emphasizes the increasing demand for Bitcoin in July.
