Bitcoin has gained significant traction among Wall Street's biggest players, with spot ETFs amassing substantial holdings. These funds now collectively hold nearly 4% of the total Bitcoin supply, signaling strong institutional demand.
Key Statistics
- Total Bitcoin Held by ETFs: 776,464 BTC ($47.7 billion) as of recent data.
- Circulating Supply: 19.64 million BTC ($1.21 trillion), capped at 21 million.
- Leading ETF: Grayscale’s Bitcoin Trust (GBTC) holds 2.2% of the supply, down from 3.2% post-ETF launch due to fee-related outflows.
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Major Holders Beyond ETFs
- MicroStrategy: Holds 193,000 BTC ($11.88 billion), representing 0.98% of the supply. The firm’s stock has surged 95% alongside Bitcoin’s 450% rise since 2020.
- US Government: Controls ~215,000 BTC ($13.23 billion) seized from criminal cases.
- Satoshi Nakamoto’s Addresses: Estimated 600,000–1.1 million BTC (3–5.6% of supply), inactive since inception.
Market Dynamics
- ETF Performance: Excluding GBTC, $15.9 billion has flowed into spot ETFs, purchasing 336,076 BTC ($20.62 billion) and generating $4.7 billion in unrealized gains (30%).
- Bitcoin Price Rally: Surged from $47,000 to over $61,000, boosting ETF profitability.
FAQs
Q: Why is GBTC losing shares?
A: High fees (1.5%) compared to competitors (0.2–0.8%) and newfound redemption flexibility post-ETF conversion.
Q: What percentage of Bitcoin is on exchanges?
A: ~10%, slightly more than miners’ reserves.
Q: How much Bitcoin might be lost forever?
A: Chainalysis estimates 3.7 million BTC (19% of supply) is irretrievable.
👉 Explore Bitcoin’s institutional adoption trends
Conclusion
Bitcoin ETFs are reshaping market liquidity, with institutional holdings growing rapidly. As demand outpaces supply, these funds could drive further price appreciation.