New reports have revealed that bitcoin Spot ETF issuers now hold nearly 5% of the total btc supply. This milestone highlights the growing demand and Rapid expansion of Spot btc ETFs in the market, offering institutional investors a relatively low-risk means of acquiring btc. He Increased demand It could also catalyze a potential rally for btc.
bitcoin ETFs Control 5% of btc Supply
bitcoin Spot ETFs Now Hold Nearly 5% of btc total supply of 21 million coins. btc-etfs” rel=”nofollow noopener” target=”_blank”>Data From the blockchain analytics platform, Dune has revealed that the total on-chain holdings of the Spot btc ETF in the United States are approximately 842,000 btc, valued at approximately $57.2 billion.
Precisely, US bitcoin ETF holds 4.27% of the current btc supply, while global btc ETF issuers hold around 1,002,343 btc according to the data. x.com/saylor/status/1795037549301313774?s=46″ rel=”nofollow” target=”_blank”>shared In a screenshot on x (formerly twitter) of MicroStrategy co-founder and former chief executive officer (CEO), Michael Taylor.
Saylor revealed that 32 spot bitcoin ETFs now cumulatively hold “one Nakamoto of btc,” implying that these ETF issuers hold approximately one million btc. Notably, the bitcoin-global-etfs-records-all-time-best-performances/” rel=”nofollow noopener” target=”_blank”>global ETF holdings They are currently five times the size of Saylor's btc assets, which amount to 214,400 btc, valued at $15 billion.
Most of the Spot btc ETFs held in the US are provided by prominent asset management companies such as Black RockGrayscale, Fidelity Investments and more.
Reports From the blockchain analysis platform, Arkham Investments show that Grayscale and BlackRock are one of the largest ETF holders globally. Grayscale bitcoin Trust (GBTC) holds approximately 288,084 btc, while BlackRock iShares bitcoin Trust (IBIT) holds 284,027 btc.
Other crypto-winter-thawing-us-bitcoin-etfs-record-first-inflows-in-weeks-coinshares/” rel=”nofollow noopener” target=”_blank”>Spot bitcoin ETF Issuers Those holding btc include Fidelity Wise Origin bitcoin btc (FBTC) with 154,370 btc, Active bitcoin Futures Strategy ETF (ARKA) with 48,444 btc, and Bitwise bitcoin ETF (BITB) with 36,092 btc.
Potential price increase in the future btc?
Following the approval of Spot btc ETFs on January 10, btc witnessed an exponential price rise, reaching a new all-time high above $73,000 in March. As the Demand for spot bitcoin ETFs grewbtc also saw skyrocketing adoption.
Now, with btc Spot ETFs making up about 5% of the total btc supply, this could signal a bullish rally for btc, which could lead to price surges to new highs. At the time of writing, btc/bitcoin-price-higher-70k/” rel=”nofollow noopener” target=”_blank”>btc price is trading below the $70,000 mark at $68,192, according to CoinMarketCap.
With the growing demand for Spot btc ETF and constant inflows, btc price could see a rally soon. Cryptoanalyst Ali Martínez has also x.com/ali_charts/status/1795368817050415111?s=46″ rel=”nofollow” target=”_blank”>kept an optimistic outlook on btc, predicting a possible rally soon. He revealed in an x post that btc's TD Sequential is currently presenting a buy signal on its hourly chart.
Featured image created with Dall.E, chart from Tradingview.com
