Bitcoin ETFs Issuer Holdings Soar above 900,000 BTC with Record July Accumulation | Bitcoinist.com
Spot Bitcoin ETFs have hit a new milestone, amassing a total of 900,000 BTC since their inception. This significant achievement comes amidst a notable wave of BTC accumulation in July.
Spot Bitcoin ETFs Holdings Surpass 900,000 BTC
Spot Bitcoin ETFs have reached an unprecedented milestone, with US BTC ETF holdings exceeding 900,000 BTC valued at over $60 billion. According to Nate Geraci, President of the ETF Store, in a recent X (formerly Twitter) post, the recent 900,000 BTC milestone of US Spot Bitcoin ETFs represents approximately 4.3% of the total supply of 21 million BTC in the market. Moreover, this substantial BTC holding makes up 82% of the nearly 1.1 million BTC held by global BTC ETFs.
Based on data from Farside Investors, a London-based investment management company, Spot Bitcoin ETFs have seen a significant rise in inflows, indicating a surge in demand for the digital asset. In less than two weeks, Spot Bitcoin ETFs saw around $2.38 billion in net inflows, bringing their total net inflows to $17 billion since their launch on January 11, 2024.
Farside Investors data also shows that Spot Bitcoin ETFs experienced 11 consecutive days of inflows. The highest inflow recorded within this period was about $383.6 million on July 19. At that time, BlackRock’s iShares Bitcoin Trust (IBIT) led with an impressive inflow of $116.2 million. Over the past two weeks, BlackRock has attracted the highest inflows, followed by Fidelity Wise Origin Bitcoin Fund (FBTC).
As a key contributor to the 900,000 BTC milestone achieved by the US Spot Bitcoin ETFs, the Assets Under Management (AuM) of BlackRock’s IBIT now manages approximately 325,449 BTC, valued at about $21 billion. This significant BTC holding underscores BlackRock’s rapid success, with its Spot BTC ETF achieving a multi-billion dollar status in less than six months.
BTC Accumulation Grows In July
In the midst of the 900,000 surge in US Spot Bitcoin ETFs holdings, BTC has experienced a notable spike in accumulation. This increase is likely driven by the recent shift in BTC’s bearish trend, possibly leading to a rise in investor demand for the cryptocurrency. According to reports from a crypto analyst known as ‘Crypto Capex’ on X, BTC accumulation into Spot Bitcoin ETFs has seen a significant uptick in July, while the availability of BTC on exchanges continues to decrease.
Glassnode also revealed a considerable increase in the BTC accumulation trend, which rose from 0.05 on June 1 to 0.44 by July 10. Based on the data, the number of BTC whales holding at least 1,000 BTC increased from 1,640 on July 1 to 1,643 on July 10. This trend highlights the growing demand for BTC in July.
BTC price wobbles amid uncertain headwinds | Source: BTCUSD on Tradingview.com
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