Since its approval in January 2024, Spot Bitcoin ETFs have been steadily gaining traction. in the United States, with issuers purchasing hundreds of thousands of BTC as its popularity spread. This has led to a large stockpile of BTC by these issuers as BlackRock leads the charge. Given the buying spree so far, the number of BTC held by Spot Bitcoin ETFs has been increasing and is almost at the 1 million mark,
Spot Bitcoin ETFs Now Hold 924,768 BTC
The United States Securities and Exchange Commission has approved a total of 12 spot Bitcoin ETFs for trading in January 2024. Now, just eight months later, these ETFs have managed to acquire more than 4% of the total Bitcoin supply. Combined, this makes Spot Bitcoin ETFs some of the largest BTC holders.
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Until now, the BlackRock Ibit has been one of the biggest buyers of BTC, surpassing even Grayscale’s GBTC, which had a 600,000 BTC head start. Currently, Grayscale has more than 350,000. Bitcoinmaking the company one of the main holders of Bitcoin.
Grayscale is still in second place when it comes to the number of BTC held. However, the Bitcoin Fund has seen more outflows than inflows since January, losing more than half of its stock ahead of Spot Bitcoin ETF approvals. Grayscale now holds less than 250,000 BTC after losing more than $20 billion to other Spot Bitcoin ETFs due to its lower fees.
Other Spot Bitcoin ETFs like Fidelity FBTC and Ark Invest/21Shares ARKB have reached nearly 50,000 BTC. So far, the funds have managed to raise 924,768 BTC, putting their total holdings very close to the 1 million BTC mark. In total, Spot Bitcoin ETFs now own 4,685 of the total Bitcoin supply.
Main addresses with the highest participation
The best Bitcoin wallet with largest BTC holdings the Satoshi Nakamoto wallet with 1.1 million BTC still remains. However, this wallet has been dormant for a long time and often left out of the top Bitcoin wallets list due to its inactivity.
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According to BitInfoCharts websiteAt the top of the Bitcoin rich list is the former Binance wallet with 248,598 BTC worth over $16.3 billion. Next comes the Bitfinex Hack Recovery wallet with 94,643 BTC, worth $6.2 billion. The Mt Gox Hack wallet contains 79,957 BTC, the third largest at $5.2 billion.
The wallet containing BTC confiscated from the Silk Road crisis with 69,370 BTC is in fourth place, worth $4.56 billion, and the Binance BTCB Reserve wallet has 68,200. Bitcoin in it, it is worth US$4.49 billion.
Featured image created with Dall.E, chart from Tradingview.com
