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Since its approval in January 2024, bitcoin-etfs-record-largest-single-day-inflow/” rel=”nofollow”>bitcoin Spot ETFs Have Been Steadily Gaining Ground in the United States, and issuers purchased hundreds of thousands of btc as its popularity spread. This has led to a large hoarding of btc by these issuers as BlackRock leads the charge. Given their buying spree so far, the amount of btc held by bitcoin spot ETFs has been increasing and is almost at the 1 million mark.
bitcoin spot ETFs now hold 924,768 btc
The United States Securities and Exchange Commission approved a total of 12 bitcoin spot ETFs for trading in January 2024. Now, just eight months later, these ETFs have managed to acquire over 4% of the total bitcoin supply. Combined, this makes bitcoin Spot ETFs some of the largest holders of btc.
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So far, BlackRock's IBIT has been one of the biggest buyers of btc, even surpassing Grayscale's GBTC, which had a head start of 600,000 btc. Grayscale currently holds over 350,000 btc, making the company one of the largest holders of bitcoin.
Grayscale still ranks second in terms of the amount of btc held. However, the bitcoin fund has seen more outflows than inflows since January, losing more than half of its reserve ahead of the Spot bitcoin ETF approvals. Now, Grayscale has less than 250,000 btc after losing more than $20 billion to other bitcoin Spot ETFs due to their lower fees.
Other bitcoin Spot ETFs, such as Fidelity FBTC and Ark Invest/21Shares ARKB, have reached almost 50,000 btc. So far, the funds have been able to obtain 924,768 btc, putting their total holdings very close to the 1 million btc milestone. In total, bitcoin Spot ETFs now hold 4,685 of the total bitcoin supply.
Top addresses with the largest holdings
The best bitcoin wallet with bitcoin-whales-resume-shorting-positions/” rel=”nofollow”>higher btc holdings It is still the Satoshi Nakamoto wallet with 1.1 million btc. However, this wallet has been dormant for a long time and is often left out of the list of top bitcoin wallets due to its inactivity.
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According to BitInfoCharts bitcoin-addresses.html” rel=”nofollow”>websiteTopping the bitcoin rich list is the former Binance wallet with 248,598 btc worth over $16.3 billion. Next up is the Bitfinex Hack Recovery wallet with 94,643 btc, worth $6.2 billion. The Mt Gox Hack wallet has 79,957 btc, the third largest at $5.2 billion.
The wallet containing the btc confiscated from the Silk Road crash with 69,370 btc is in fourth position with a value of $4.56 billion, and the Binance BTCB Reserve wallet has 68,200 btc, worth $4.49 billion.
Featured image created with Dall.E, chart from Tradingview.com
