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Since its approval in January 2024, Spot Bitcoin ETFs are steadily gaining traction In the United States, issuers have purchased hundreds of thousands of Bitcoin as its popularity spreads. This has led to significant storage of BTC by these issuers with BlackRock leading the charge. Given the buying spree so far, the number of bitcoins held by spot bitcoin ETFs is on the rise and is approaching roughly 1 million.
Spot Bitcoin ETFs now hold 924,768 BTC
The US Securities and Exchange Commission approved a total of 12 spot Bitcoin ETFs for trading back in January 2024. Now, just eight months later, these ETFs have managed to capture more than 4% of the total supply of Bitcoin. Combined, this makes Spot Bitcoin ETFs some of the largest holders of BTC.
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To date, BlackRock IBIT has been one of the largest buyers of BTC, surpassing even GBTC’s Grayscale, which had a starting position of 600,000 BTC. Currently, Grayscale holds over 350,000 BTC, making the company one of the largest holders of Bitcoin.
Grayscale is still in second place when it comes to the number of BTC held. However, the Bitcoin fund has recorded more outflows than inflows since January, losing more than half of its money before the Spot Bitcoin ETF was approved. Now, Grayscale has less than 250,000 BTC after losing more than $20 billion to other Spot Bitcoin ETFs due to their low fees.
Other Spot Bitcoin ETFs, such as Fidelity FBTC and Ark Invest/21Shares ARKB, have reached nearly 50,000 BTC. So far, the funds have managed to collect 924,768 BTC, bringing their total holdings very close to 1 million BTC. In total, Spot Bitcoin ETFs now comprise 4,685% of the total Bitcoin supply.
Top titles with biggest holdings
Best bitcoin wallet with Largest BTC holdings Satoshi Nakamoto’s wallet still contains 1.1 million Bitcoins. However, this wallet remained dormant for a long time and was often excluded from the list of best Bitcoin wallets due to its inactivity.
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According to BitInfoCharts WebsiteTopping the Bitcoin rich list is the old Binance wallet, which contains 248,598 Bitcoin worth more than $16.3 billion. Next is the Bitfinex Hack Recovery wallet containing 94,643 BTC, worth $6.2 billion. The Mt Gox Hack wallet contains 79,957 BTC, ranking third with a value of $5.2 billion.
The wallet containing the BTC confiscated from the Silk Road statue with 69,370 BTC, is in fourth place with a value of $4.56 billion, and the Binance BTCB reserve wallet has 68,200 BTC, with a value of $4.49 billion.
Featured image created with Dall.E, chart from Tradingview.com