- Less than a year after trading started, the combined net inflows of the 12 U.S. spot Bitcoin ETFs have topped 500,000 BTC.
- Since their introduction in January, the ETFs have now absorbed over 2.5 percent of the 19.8 million bitcoins in circulation.
Less than a year after trading started on January 11, the 12 U.S. spot Bitcoin exchange-traded funds had combined net inflows of over 500,000 on Wednesday.
Over 500,000 BTC has been transferred to spot ETFs so far this year. Since they were introduced in January, U.S. ETFs have taken up almost 2.5 percent of the supply in circulation. Out of the 21 million BTC in total quantity, 19.8 million are presently in circulation.
According to Lunde, net inflows of $223.1 million into the spot Bitcoin ETFs on Wednesday were sufficient to push them above the milestone, reaching 500,925 BTC. The largest inflows, totaling $121.9 million, came into Fidelity’s FBTC fund. The spot Bitcoin ETFs have seen net inflows of $34.7 million since debut in dollar terms, and they are currently on a 10-day inflow run of about $4.3 billion.
Last week, net inflows into BlackRock’s IBIT spot Bitcoin ETF alone surpassed 500,000 BTC. However, in terms of cumulative flows, the spot Bitcoin ETFs as a whole have just recently attained that level because to significant net withdrawals from Grayscale’s converted and higher-fee GBTC fund.
With more than $50 billion in assets managed, IBIT has also surpassed BlackRock’s gold ETF, the iShares Gold Trust (IAU). The winner is already known to the smart money. In a market that mixes stupid money, the market capitalization of gold is $17 trillion, while that of Bitcoin is $2 trillion. Embrace the positive aspects of history.
More bitcoin is held by US spot Bitcoin ETFs than Satoshi
For the first time on Friday, the U.S. spot Bitcoin ETF exceeded the 1.1 million BTC that the cryptocurrency’s anonymous founder, Satoshi Nakamoto, is thought to own. Because of the sizeable bitcoin holdings that GBTC carried over from its conversion from a closed-end fund and its subsequent outflows, holdings differ from cumulative flows.
BlackRock’s IBIT is the largest spot Bitcoin ETF by onchain holdings, with over 520,000 BTC. Fidelity’s FBTC has more than 247,000 BTC, and Grayscale’s GBTC has 210,000 BTC. This is a decrease from the initial lead of almost 619,000 BTC on January 11.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
