Currently, over 1 million BTC is held by Bitcoin exchange-traded funds (ETFs), which are designed to track the asset's price movements.
According to the chart, as of May 24, more than 30 Bitcoin ETFs hold a combined total of 1,002,343 BTC. Post to Twitter The data was released Monday by MicroStrategy Chairman Michael Saylor. Decryption Based on public reporting and backed by Coinglass' Bitcoin ETF dashboard.
The holdings represent roughly 5% of the world's circulating BTC supply and are currently worth a total of $70.5 billion – nearly five times Saylor's own Bitcoin holdings, which are currently worth 214,400 BTC ($15 billion).
Most of that bitcoin is held within the US Bitcoin Spot ETF, which launched in January and has smashed all previous ETF launch performance records. More than half is split evenly between the world's largest funds, Grayscale Bitcoin Trust (289,040 BTC) and BlackRock's iShares Bitcoin Trust (287,168 BTC).
The next largest funds include the US runner-up FidelityWise Origin Bitcoin Trust (161,538 BTC), the Ark21Shares Bitcoin ETF (48,444 BTC), and the Bitwise Bitcoin ETF (36,185 BTC). Internationally, the largest Bitcoin ETF is the Canadian Purpose Bitcoin ETF, the first to be launched in the world, with 27,110 BTC.
Bitcoin ETFs allow investors to gain exposure to bitcoin through a familiar ETF wrapper that includes bitcoin alongside other securities assets in retirement accounts and other tax-advantaged accounts, and they are also a way for large institutional investors who can’t buy the coin directly from cryptocurrency exchanges to gain exposure.
According to first-quarter reported figures, over 20% of exposure to U.S. spot Bitcoin ETFs was held by large investors and institutions with total assets of more than $100 million, including major hedge funds, banks and even the state of Wisconsin's pension fund.
“Longer term, I think these could be 1% to 5% of the $7 trillion U.S. ETF market.” Said “We think this is a hundreds of billion dollar market in the U.S. alone,” Bitwise CIO Matt Hougan said in an interview earlier this month.
Editor: Ryan Ozawa.
